Earnings per share of $0.68 compared to $0.64 last year Same-store sales excluding fuel decreased by 2.5% compared to COVID-elevated sales levels last year Excluding fuel, gross margin increased by 17 basis points Project Horizon growth plan on track; second year successfully completed Announced new loyalty strategy; Scene+ rollout to begin in Atlantic Canada in… [Read More]
Metrie® Announces Its Third Acquisition in 18 Months and Expands U.S. Atlantic Market Leadership Position, With Acquisition of Tinder Wholesale, LLC
VANCOUVER, British Columbia–(BUSINESS WIRE)–Metrie®, North America’s largest manufacturer and distributor of millwork solutions, today completed its acquisition of Tinder Wholesale, LLC, (“Tinder”) a two-step distributor of interior and exterior millwork. Alongside the purchase of EL & EL Wood Products Corp. in April 2022, and Pacific MDF Products Inc. and Canadian MDF Products Company in December 2020, the acquisition of Tinder is Metrie’s third acquisition within eighteen months. Each acquisition supports Metrie’s growth strategy and strengthens the overall supply chain for our partners.
“Metrie continues to grow – with this acquisition, in our important US Atlantic region,” commented Kent Bowie, President & CEO, Metrie. “We believe Metrie has the most robust, integrated supply chain in the North American millwork industry, with a combination of internal manufacturing capability complemented by key partnerships with global leaders. The Tinder acquisition enables us to offer our existing – and new – Atlantic customers more innovative product and supply chain solutions. This is an exciting opportunity for us to provide an even better customer experience in the East.”
“Further, the deal showcases our leading presence in every strategic market in the U.S. and Canada; and we still believe there is more that we can do for customers, suppliers, and partners as the market consolidates further. Thank you to Mick Tinder and his team for believing in Metrie to continue their customer service excellence. The Metrie team is actively looking for other millwork-focused businesses that are exploring exit opportunities,” concluded Mr. Bowie.
About Metrie®:
For nearly 100 years, Metrie has helped people transform their homes with high quality millwork products. The Metrie story began in 1926 as a small, family-owned and -operated business in Vancouver, B.C. Since then, Metrie’s commitment to innovative design and fine craftsmanship has helped the company expand operations to include six solid wood and MDF manufacturing facilities, plus 26 distribution centers in the U.S. and Canada. Metrie has grown over the last nine decades to become the largest MDF moulding manufacturer in North America. For more information, please visit www.Metrie.com or visit us on social media: LinkedIn, Facebook, Instagram, Twitter, Pinterest, YouTube and Houzz.
Contacts
Jonathan Anthony, Director, Corp. Communications | Jonathan.Anthony@metrie.com | 604-374-3240
H.I.G. Realty Credit Partners Originates Two Loans, Totaling $95 Million, Secured by Two Multifamily Properties in the Southeastern US
NEW YORK–(BUSINESS WIRE)–#CommercialRealEstate–H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $49 billion of equity capital under management, is pleased to announce that its affiliate, H.I.G. Realty Credit Partners, has originated two loans, totaling $95 million, secured by two multifamily complexes in Charlotte, North Carolina and Chattanooga, Tennessee.
The loans were made to affiliates of Ardmore Residential, an experienced multifamily developer and owner throughout the southeastern United States. The properties are nearing the completion of construction, and are set to benefit from the growing residential demand in both of their markets.
“We are excited to finance these brand new, high-quality assets in the Charlotte and Chattanooga MSAs. Ardmore has developed an excellent product that will be well received in the market, and we are glad to be a part of these projects,” said Michael Mestel, Managing Director at H.I.G. Realty Credit Partners.
About H.I.G. Realty Credit Partners
H.I.G. Realty Credit Partners is the real estate debt platform of H.I.G. Capital, a leading global alternative assets investment firm with over $49 billion of equity capital under management. H.I.G. Realty Credit Partners and H.I.G. Realty Partners collectively manage $4.3 billion of capital. H.I.G. Realty Credit Partners focuses on small-to-mid cap real estate, targeting debt investments across all property types located throughout the U.S., Europe, and Latin America. Debt investments include senior bridge loans, mezzanine loans and preferred equity collateralized by transitional properties and portfolios. H.I.G. Realty Partners’ equity investments focus on the acquisition of value-add assets, employing a hands-on, operationally focused approach that seeks to generate substantial cash flow and asset appreciation through rehabilitating, redeveloping, repositioning and rebranding assets that have been capital starved and/or poorly managed. For more information, please refer to the H.I.G. website www.higcapital.com.
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with over $49 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.
Contacts
Michael Mestel
Managing Director
mmestel@higrealty.com
Steven Schwartz
Managing Director
sschwartz@higrealty.com
Novagard Introduces UV-Cured Silicone Gel as Newest Innovation for Off-Road Vehicle, Automotive, Aerospace and Industrial Markets
Additional Innovations on the Horizon
CLEVELAND–(BUSINESS WIRE)–Novagard, a woman-owned silicone manufacturer, has introduced yet another innovative extension of the company’s UV-cure gel product line. Their 800-755 UV-cure gel with a durometer (Shore 000) of only 20, is incredibly soft, flexible, and cures tack-free in seconds.
The easy-to-apply, self-healing gel is applicable for those industries needing resilient protection for sensitive module applications, including:
- Off-road Vehicles
- Automobiles
- Aerospace
- Industrial
- Telecom
- Military
“The self-leveling and self-healing gel is a strong tool for several electronic applications,” said Gregory Peck, Novagard sales manager for electronics, EV, and silicone solutions. “Protecting sensitive electronic components is increasingly important as the applications expand into harsh environments. An example might be an electrical splice connector box where the wires can be inserted into the gel. The gel would then coalesce around the wires, completely protecting them from moisture. Another benefit of the 800-755 gel is that you could return a year later to remove the wires, make any adjustments, and reinsert them without incident.”
Silicone-based compounds provide excellent insulation properties, vibration damping, and barrier protection against weather and severe environmental conditions, ideal for off-road vehicles, telecom, military, or aerospace functions. The gel will remain soft and pliable and perform like all other Novagard UV-cure silicones in extreme temperatures from -40 Celsius to 200 Celsius.
The new silicone gel, one of Novagard’s 27 UV-cure products, is applied into wiring modules or clamshells (for example) at the manufacturing site, passed under a UV light to cure it, and then shipped to the end user. A UV-cure system improves throughput in the manufacturing process, eliminating extra steps. This gel is also ideal for any application involving mechanical or thermal shock vibration or applications requiring low stress on delicate components. NOVAGARD® UV-cure silicone encapsulating compounds maintain all the enhanced performance characteristics of conventional silicone-based materials with processing speeds unmatched by other technologies.
This new Novagard gel is one of many Novagard innovative products to be introduced for several markets in the coming weeks.
As a Gold Sponsor of Silicone Expo, Novagard is in Detroit at the Expo June 21—23 showcasing its new product with live demonstrations at booth #421.
About Novagard
Novagard, a Certified Women’s Business Enterprise headquartered in Cleveland, Ohio is an innovator and manufacturer of silicone sealants, coatings, lubricants, and foams for the electronics, transportation/automotive, manufacturing, construction, medical, and military markets. ISO certified 9001: 2015 (QMS with Design) and IATF 16949:2016 (QMS with Design), their products meet the highest standards. For more information, visit novagard.com.
Contacts
Vince McMorrow, vince.mcmorrow@fahlgren.com
EarthCam Selects Sierra Wireless AirLink® XR80 5G for World’s First Multi-Network 5G Camera System
Sierra Wireless AirLink® XR80 5G router integrated into new EarthCam solution enabling advanced live-streaming, safety and security analytic applications
VANCOUVER, British Columbia–(BUSINESS WIRE)–Sierra Wireless (NASDAQ: SWIR) (TSX: SW), a world leading IoT solutions provider, today announced that EarthCam, a leading provider of webcam content, technology and services, has selected Sierra Wireless’ AirLink® XR80 5G router for their world-first multi-network 5G camera system, the StreamCam 5G.
World’s First Multi-Network 5G Camera System
Sierra Wireless’ AirLink® XR80 5G provides EarthCam’s StreamCam 5G with the fast, ultra-low latency and reliable 5G connectivity needed to send an almost unlimited amount of visual data from high resolution live-streaming cameras, easily allowing users to keep up to date on the progress of a project, or share their location with vastly improved file transfer times. Large amounts of data from environmental, safety and security sensors can be quickly accessed, and the camera also features AI capabilities. First announced in October of 2020, EarthCam’s 5G multi-network camera system offers 4K streaming, 12-megapixel photography and built-in time-lapse capabilities.
“Sierra Wireless is an excellent partner, supporting EarthCam as we pioneer next-generation live-streaming cameras,” said Brian Cury, CEO and Founder of EarthCam. “5G is the future of webcam technology and it is becoming indispensable as clients require increasingly high quality video data, accessible from anywhere. Our collaboration with Sierra Wireless delivers efficient and powerful new solutions for entertainment, construction safety and AI analytics. With 5G and Sierra Wireless’ AirLink® XR80 router, we’re able to drastically cut file-transfer times for a full day of recordings from two hours to five minutes.”
Sierra Wireless’ AirLink® routers including the XR80 5G and the RV55 LTE-A Pro, are essential for EarthCam’s all-weather cameras for multi-year project documentation, such as time-lapse videos of the NFL’s largest stadium, Los Angeles SoFi, Denver International Airport and the rebuilding of the World Trade Center Site in Manhattan. “EarthCam systems are renowned for reliable operation for many years in the field, plus easy configuration, deployment and management,” continued Mr. Cury. “Sierra Wireless’ industrial grade, reliable wireless devices are an important component of these industry-leading solutions.”
“The Sierra Wireless AirLink® XR80 5G router is purpose-built to maximize connectivity, reliability, and security for both mission-critical and business-critical applications,” said Tom Mueller, Vice President, Product Management, Sierra Wireless. “It delivers consistent primary and backup connectivity for both public and private networks ensuring that connectivity is “always-on”, making it ideal for EarthCam’s 5G implementation. Its seamless global connectivity enables users to easily monitor jobsites remotely in real-time and is an integral part of the EarthCam solution. The router provides the secure and reliable network connection to stream live video from EarthCam’s cameras to the cloud, enabling new applications and increased capabilities.”
Sierra Wireless AirLink® XR80 5G High-Performance Multi-Network Router
Purpose built for mission-critical environments and high performance business-critical 5G applications, the XR Series routers, which includes the AirLink® XR80 5G, improve the performance and reliability of video streaming, video offload, voice communications and other data-intensive and time-sensitive use cases by ensuring that the router connects to the best-performing network, at the right time. This is achieved through AirLink OS, which features Cognitive Wireless, Sierra Wireless’ patented technology that automatically delivers sub-second switching to the best available network.
The AirLink® XR Series was designed for operational simplicity, from initial set up and configuration, with zero-touch out of the box provisioning, to ongoing management. Part of the 5G solution portfolio that includes management software and reporting systems, 24×7 support, routers, antennas, and accessories, the XR80 5G is managed by the AirLink Management System (ALMS), a cloud-based management platform which includes remote device management and mobility-focused reporting through AirLink Complete. Additionally, an embedded LPWA cellular radio, connected through Sierra Wireless Global Connectivity, provides an always-on out-of-band management link to ALMS. This unique capability provides zero touch provisioning and a link of last resort from the router to its management platform, to ensure the ongoing operational success of these 5G deployments.
How 5G is Supercharging Visual Data for Monitoring, Documentation and Promotion
The combination of low latency and high data throughput provided by 5G has increased the capabilities of project documentation and public outreach, enabling large networks of cameras to stream ultra-high definition video in real-time, and provide vast amounts of bandwidth making 4G wireless congestion a concern of the past. This and its ability to enable advanced analytical capabilities will have a major impact on virtual tourism, smart cities, transportation networks, and commercial environments, offering improved safety, security and documentation.
Availability
EarthCam offers 5G as an option throughout their entire product line. Both the AirLink® XR80 5G and RV55 LTE-A Pro routers are available to order from Sierra Wireless’ global network of partners.
Resources
- eBook: How 5G is Supercharging Video Surveillance
- White Paper: Transforming Visual Data in a 5G-Enabled IoT World
- eBook: AirLink® XR – The World’s Most Advanced 5G Router Solution
- Blog: New AirLink OS Advances Multi-Network 5G Router Connectivity
For more information, visit: https://www.sierrawireless.com/products-and-solutions/routers-gateways/xr80/; https://www.sierrawireless.com/products-and-solutions/routers-gateways/rv55/
To contact the Sierra Wireless Sales Desk, call +1 877-687-7795 or visit http://www.sierrawireless.com/sales.
Note to editors:
To view and download images of Sierra Wireless products, visit https://www.sierrawireless.com/company/image-gallery/
About Sierra Wireless
Sierra Wireless (NASDAQ: SWIR) (TSX: SW) is a world leading IoT solutions provider that combines devices, network services, and software to unlock value in the connected economy. Companies globally are adopting 4G, 5G, and LPWA solutions to improve operational efficiency, create better customer experiences, improve their business models, and create new revenue streams. Sierra Wireless works with its customers to develop the right industry-specific solution for their IoT deployments, whether this is an integrated solution to help connect edge devices to the cloud, a software/API service to manage processes with billions of connected assets, or a platform to extract real-time data to improve business decisions. With more than 25 years of cellular IoT experience, Sierra Wireless is the global partner customers trust to deliver them their next IoT solution. For more information, visit www.sierrawireless.com.
Connect with Sierra Wireless on the IoT Blog at http://www.sierrawireless.com/iot-blog, on Twitter at @SierraWireless, on LinkedIn at https://www.linkedin.com/company/sierra-wireless and on YouTube at https://www.youtube.com/SierraWireless.
“Sierra Wireless” is a registered trademark of Sierra Wireless, Inc. “AirLink” is a registered trademark of Sierra Wireless America, Inc. Other product or service names mentioned herein may be the trademarks of their respective owners.
About EarthCam
EarthCam is the global leader in providing webcam content, technology and services. Founded in 1996, EarthCam provides live streaming video, time-lapse construction cameras and reality capture solutions for corporate and government clients. EarthCam leads the industry with the highest resolution imagery available, including the world’s first outdoor gigapixel panorama camera system. This patented technology delivers superior multi-billion pixel clarity for monitoring and archiving important projects and events. EarthCam has documented over a trillion dollars of construction projects around the world. The company is headquartered on a 10-acre campus in Northern New Jersey.
Projects documented by EarthCam include: One Vanderbilt Manhattan, St. Regis Chicago, Hudson Yards, UBS Arena, Los Angeles SoFi Stadium, Las Vegas Allegiant Stadium, Mercedes-Benz Stadium, LAX Airport, Moynihan Station, San Francisco Oakland Bay Bridge, Panama Canal Expansion, The Red Sea Project, The Jeddah Tower, Academy Museum of Motion Pictures, Whitney Museum of American Art, Louvre in Abu Dhabi, Smithsonian National Museum of African American History and Culture, One World Trade Center, Statue of Liberty Museum and the Smithsonian Air & Space Museum.
Learn more about EarthCam’s innovative solutions at earthcam.net
Contacts
Louise Matich
Sierra Wireless
Media Relations
phone: +1 236 979 2154
pr@sierrawireless.com
David Climie
Sierra Wireless
Investor Relations
phone: +1 604 321 1137
dclimie@sierrawireless.com
Sydney Fader
EarthCam
Media Relations
phone: +1 201 488 1111
press@earthcam.com
InterRent Announces Voting Results from the 2022 Annual and Special Meeting
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
OTTAWA, Ontario–(BUSINESS WIRE)–InterRent Real Estate Investment Trust (TSX-IIP.UN) (the “REIT”) is pleased to announce the voting results from its 2022 Annual and Special Meeting (the “Meeting”) of unitholders held on June 20, 2022. Each of the matters voted upon at the Meeting is discussed in detail in the REIT’s management information circular dated May 11, 2022 (the “Information Circular”) and is available on the REIT’s website at www.interrentreit.com/MIC2022. A total of 111,952,343 units representing approximately 77.70% of the REIT’s issued and outstanding units were voted in person and by proxy in connection with the Meeting. The voting results for each matter presented at the Meeting are provided below:
1. Election of Trustees
The following nominees listed in the Information Circular were elected as trustees of the REIT until the next annual meeting of the unitholders or until their successors are elected or appointed, and the voting results are as follows:
Nominee |
Votes in Favour |
Percentage of |
Votes Withheld |
Votes Withheld |
||||
Paul Amirault |
100,137,027 |
89.53% |
11,709,127 |
10.47% |
||||
Jean-Louis Bellemare |
110,783,741 |
99.05% |
1,062,413 |
0.95% |
||||
Brad Cutsey |
110,264,079 |
98.58% |
1,582,075 |
1.42% |
||||
Judy Hendriks |
110,842,333 |
99.10% |
1,003,821 |
0.89% |
||||
John Jussup |
89,968,224 |
80.44% |
21,877,930 |
19.56% |
||||
Ronald Leslie |
108,750,951 |
97.23% |
3,095,203 |
2.77% |
||||
Mike McGahan |
106,633,470 |
95.34% |
5,212,684 |
4.66% |
||||
Cheryl Pangborn |
105,091,878 |
93.96% |
6,754,276 |
6.04% |
2. Amendment of Deferred Unit Plan and Approval of Unallocated Units
The amendment to the deferred unit plan to reduce the maximum number of units of the REIT that may be issued under the new performance and restricted unit plan and the deferred unit plan combined, from 7% to 6% of the issued and outstanding Units; and to authorize all unallocated Units issuable pursuant to such plans as required by the Toronto Stock Exchange every three years, all as more fully described in the Information Circular, was approved by majority vote, and the voting results are as follows:
Votes in Favour |
Percentage of Votes |
Votes Against |
Votes Against as a |
|||
70,014,790 |
62.60% |
41,831,364 |
37.40% |
3. Approval of Performance and Restricted Unit Plan
The new Performance and Restricted Unit Plan, as more fully described in the information Circular, was approved by majority vote, and the voting results are as follows:
Votes in Favour |
Percentage of Votes |
Votes Against |
Votes Against as a |
|||
109,764,369 |
98.17% |
2,051,785 |
1.83% |
4. Other Matters
In addition to the foregoing, unitholders (i) approved and authorized the trustees of the REIT to elect the nominees listed in the Information Circular as trustees of InterRent Trust and as directors of InterRent Holdings General Partner Limited, in each case, until the next annual meeting of the unitholders or until their successors are elected or appointed; and (ii) reappointed RSM Canada LLP, Chartered Professional Accountants as auditors of the REIT until the next annual meeting of the unitholders at remuneration to be fixed by the trustees.
About InterRent
InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.
InterRent’s strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure and, offer opportunities for accretive acquisitions.
InterRent’s primary objectives are to use the proven industry experience of the Trustees, Management and Operational Team to: (i) to grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties; (ii) to provide Unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.
The TSX has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.
Contacts
Sandy Rose, CFA
Director – Investment Relations & Sustainability
(514)704-2459
sandy.rose@interrentreit.com
www.interrentreit.com
UPDATE TO SOURCE — Slate Grocery REIT Announces Agreement to Acquire US$425 Million Grocery-Anchored Real Estate Portfolio and Agreement to Form Joint Venture with Slate North American Essential Real Estate Income Fund L.P.
TORONTO, June 21, 2022 (GLOBE NEWSWIRE) — 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 it has agreed to acquire 14 properties comprising 2.5 million square feet (the “Portfolio”). The Portfolio is valued at US$425 million (the “Acquisition”), which represents a 6.9%… [Read More]
Northview Fund Announces Results of Voting for Trustees at Annual Meeting of Unitholders
Not for distribution to U.S. newswire services or for dissemination in the United States. CALGARY, Alberta, June 21, 2022 (GLOBE NEWSWIRE) — Northview Fund (the “Fund”) (TSX: NHF.UN) today announced the results of voting for trustees at its annual meeting of unitholders held earlier today (the “Meeting”). Each of the nominees listed in the management… [Read More]
Slate Grocery REIT Announces Agreement to Acquire US$425 Million Grocery-Anchored Real Estate Portfolio and Agreement to Form Joint Venture with Slate North American Essential Real Estate Income Fund L.P.
TORONTO, June 21, 2022 (GLOBE NEWSWIRE) — 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 it has agreed to acquire 14 properties comprising 2.5 million square feet (the “Portfolio”). The Portfolio is valued at US$425 million (the “Acquisition”), which represents a 6.9%… [Read More]
CAPREIT Continues to Generate Value for Unitholders and Communities Through Portfolio Repositioning
TORONTO, June 21, 2022 (GLOBE NEWSWIRE) — Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today that it has completed the sale of two properties in Scarborough, Ontario and two properties in Ottawa, Ontario totaling 793 apartment suites. The two portfolios were sold for total consideration of $200.1 million, well above current IFRS… [Read More]
Parkit Enterprise Announces AGSM Results
TORONTO, June 21, 2022 (GLOBE NEWSWIRE) — Parkit Enterprise Inc. (“Parkit” or the “Corporation”) (TSXV: PKT), is pleased to announce that all matters set forth in the management proxy and information circular dated May 16, 2022, setting the number of directors to be elected at the meeting at six, the election of the Board of… [Read More]
First Capital REIT Announces Election of Trustees
TORONTO, June 21, 2022 /CNW/ – First Capital REIT (“First Capital”) (TSX: FCR.UN) announced today the results of the election of trustees at its annual meeting of unitholders held on June 21, 2022 (the “Meeting”). The total number of trust units represented by unitholders present or by proxy at the Meeting was 177,710,813, representing 80.85%… [Read More]
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