HOUSTON–(BUSINESS WIRE)–Westlake Royal Building Products™, one of North America’s largest manufacturers and distributors of exterior and interior building products, is pleased to announce that its parent company Westlake Corporation (NYSE: WLK) has achieved two years of +Vantage Vinyl certification.

+Vantage Vinyl is a voluntary, independent, third-party verification program, which Vinyl Sustainability Council (VSC) members use to certify their contributions toward continuous improvement in each of the impact categories – resource recovery, emissions, health and safety. To secure the +Vantage Vinyl mark, Westlake must prove each year that it has met the rigorous requirements outlined by the program’s guiding principles and has integrated sustainability activities and key performance indicators into the business as required by the initiative.

“We are thrilled that Westlake has received the +Vantage Vinyl certification for a second year, which is a demonstration of our company’s dedication to sustainable business practices,” said Steve Booz, vice president of marketing, Westlake Royal Building Products. “While we realize sustainable initiatives are ongoing, we hope to inspire other organizations to be responsible leaders in advancing an industry-wide approach to sustainability.”

Westlake uses Building for Environmental and Economic Sustainability (BEES) software, which was developed by the National Institute of Standards and Technology (NIST) to analyze the environmental life cycle of its products, from raw materials to waste management policies. The BEES software has shown that throughout its life cycle, vinyl releases significantly fewer toxic chemicals into the environment than other siding materials and has a lower overall environmental impact.

Westlake Royal Building Products uses PVC resin as the backbone of Royal^® vinyl and Exterior Portfolio^® vinyl siding. This is derived from components in nature, such as common salt and natural gas, that make PVC weather-resistant, chemically stable and lightweight.

“Compared to vinyl siding, fiber cement contributes almost four times the global warming potential; more than two times the acidification; and more than three-and-a-half times the air pollution,” added Booz. “We are also leading the charge, along with the Vinyl Siding Institute, in investigating methods of post-consumer recycling of PVC.”

+Vantage Vinyl is the only sustainability initiative that allows participation from all companies within the entire vinyl value chain with U.S. operations, ranging from raw material manufacturers and suppliers to final product manufacturers and retailers. To learn more about the +Vantage Vinyl program visit https://vantagevinyl.com/.

About Westlake Royal Building Products

Westlake Royal Building Products USA Inc., a Westlake company (NYSE:WLK), is a leader throughout North America in the innovation, design, and production of a broad and diverse range of exterior and interior building products, including Siding and Accessories, Trim and Mouldings, Roofing, Stone, Windows and Outdoor Living. For more than 50 years, Westlake Royal Building Products has manufactured high quality, low maintenance products to meet the specifications and needs of building professionals, homeowners, architects, engineers and distributors, while providing stunning curb appeal with an unmatched array of colors, styles, and accessories.

For more information, please visit WestlakeRoyalBuildingProducts.com. Follow us on LinkedIn and Instagram and “Like” us on Facebook.

Contacts

Kriss Swint

Westlake Royal Building Products

kswint@westlake.com

CALGARY, Alberta–(BUSINESS WIRE)–Westphalia Dev. Corp. (the “Corporation”) announced today its results for the fiscal year and fourth quarter ended December 31, 2021. Launched in March 2012, the Corporation acquired for development the 310-acre Westphalia Property (the “Property or the “Project”) located in Prince George’s County, Maryland, United States.

Review of Operations

The Corporation continues to actively seek purchasers and developers for the remaining lands associated with Phases 2 and 3 as well as other more immediate opportunities associated with the Phase 1 retail lands. The key activities undertaken by the Corporation during the year ended December 31, 2021, were as follows:

Construction Activities

• Continued construction on the Woodyard Road Interchange project. Construction is on schedule and expected to be completed in September 2022.

• The Presidential Parkway East project is substantially complete pending paving of the final top coat; final surveys are being prepared.

• Continued construction on the Presidential Parkway West project, which is expected to be completed by Q3 2022.

Sales Activities & Financing

• The Corporation amended the purchase and sale agreement to increase the purchase price for the commercial/industrial land in Phases 2 and 3 of the Project.

• A purchase and sale agreement expired in accordance with its terms on the residential for sale sites. The Corporation is in discussions with the same buyer regarding a potential alternative agreement pursuant to which that buyer would purchase fully engineered fee simple lots in lieu of raw land for condominium development. The Corporation will also take this out to market and discuss the opportunity with other builders.

The single-family market in the Washington, D.C. metropolitan statistical area, and specifically in the Prince George’s County submarket, continues to show strength which has led to increased builders’ interest in purchasing raw land for the development and construction of their own lots.

Management continues to focus on strategies to maximize the returns of the Project, which include, but are not limited to:

• Subsequent to year end, on April 1, 2022, the Corporation renegotiated its senior debt with its existing lender, WWMN, LLC. The Corporation has also begun reaching out to a third-party bank for an additional short-term loan.

• The Corporation is working to advance the planning of its current Phase 1 retail lands which are being considered on a for sale basis or a vertical joint venture basis. There are three sites in which a vertical strategy is being pursued to work with national or regional retail commercial and senior living builders. The Corporation is evaluating options for consultants to be engaged for this strategy and is seeking partners to build and lease out the two commercial sites and the senior living site.

• The Corporation continues to work with the local community, County leadership, and internal staff to re-plan additional development within the Westphalia Town Center. The Corporation also continues to work with the various consultants to implement a shift in the project’s scope after having received input from those detailed above.

Fourth Quarter and Year End Financial Results

The Corporation did not recognize any revenue in the fourth quarter of 2021. During the year ended December 31, 2021, the Corporation recognized revenue on contracts of $nil (2020 – $18,868,800). The cost of sales relating to the lot sales was $nil (2020 – $18,716,794), including selling costs and commissions. Cost of sales for the year ended December 31, 2021, included impairments on land development inventory of $nil (2020 – $2,469,865). Revenue and cost of sales recognized for the year ended December 31, 2020, was in respect to the sale of 18 Phase 1 single family lots to home builders and the Phase 1A bulk land sale to Galaxy NC, LLC.

For the year ended December 31, 2021, the Corporation generated a comprehensive loss of $1,917,091. When compared to the year ended December 31, 2020, total comprehensive loss of $3,419,241, there is a variance of $1,502,150 between the respective period ends. The variance is largely due to an impairment of $ 2,469,865 recognized during the year ended December 31, 2020. The breakdown of the comprehensive loss generated is detailed in the Management Discussion & Analysis.

Additional Information

The Corporation is managed by Walton Global Investments Ltd. and the development of the project is managed by Walton Development & Management (USA), Inc., both of which are members of Walton.

Walton is a privately owned, leading global real estate investment, land asset management and administration group that has focused on strategically located land in major growth corridors for more than 43 years. Walton manages and administers US$3.4 billion of real estate assets in North America on behalf of its investors and business partners. Walton has more than 98,000 acres of land under ownership, management and administration in the United States and Canada. Key entities in Walton include Walton Global Holdings, LLC, Walton International Group and Walton Development & Management (USA), Inc. For more information visit Walton.com.

This news release, required by Canadian laws, does not constitute an offer of securities, and is not for distribution or dissemination outside Canada. This news release contains forward looking information, and actual future results may differ from what is disclosed in this news release. Forward-looking information is based on the current expectations, estimates and projections of the Corporation at the time the statements are made. They involve a number of known and unknown risks and uncertainties which would cause actual results or events to differ materially from those presently anticipated. The risks, uncertainties and other factors that could cause the Corporation’s actual results and performance in future periods to differ materially from the forward looking information contained in this news release include, among other things, the development of Westphalia Town Center, general economic and market factors, including interest rates, a decline in the real estate market, changes in government policies and regulations or in tax laws, changes in municipal planning strategies and whether certain development approvals are obtained and changes in the Canadian/U.S. dollar exchange rate, in addition to those factors discussed or referenced in documents filed with Canadian securities regulatory authorities and available online at www.sedar.com.

Except as otherwise noted, all amounts are in Canadian dollars, and are based on unaudited condensed interim consolidated financial statements for the three months ended December 31, 2021, and related notes, prepared in accordance with International Financial Reporting Standards.

Contacts

Media Contact:
Megan Wahl

LAVIDGE

480-998-2600

DL-Walton@lavidge.com

LADERA RANCH, Calif.–(BUSINESS WIRE)–SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), an internally-managed real estate investment trust and a premier owner and operator of self storage facilities in the United States and Canada, today filed a registration statement on Form S-11 with the U.S. Securities and Exchange Commission (the “SEC”) on April 22, 2022, relating to a proposed underwritten public offering in conjunction with the listing of its common stock on a national securities exchange. SmartStop intends to apply to list its common stock on the New York Stock Exchange under the ticker symbol “SMST.”

The number of shares to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market conditions, and there can be no assurance as to whether, or when, the offering may be contemplated or as to the actual size or terms of the offering.

Citigroup, Wells Fargo Securities, KeyBanc Capital Markets and BMO Capital Markets, are acting as joint book-running managers of the offering.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering, when available, may be obtained from: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146 or email to: Prospectus@citi.com); Wells Fargo Securities, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York, 10001, at (800) 326-5897 or email a request to cmclientsupport@wellsfargo.com; KeyBanc Capital Markets Inc., Attention: Equity Syndicate, 127 Public Square, 4th Floor, Cleveland, OH 44114, by telephone at 1.800.859.1783 or by fax at 1-216-689-0845; or BMO Capital Markets Corp., Attention: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, by telephone at (800) 414-3627 or by email: bmoprospectus@bmo.com.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About SmartStop Self Storage REIT, Inc. (SmartStop)

SmartStop is a self-managed REIT with a fully integrated operations team of approximately 420 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs. As of April 22, 2022, SmartStop has an owned and managed portfolio of 165 properties in 20 states and Ontario, Canada and comprising approximately 112,000 units and 12.8 million rentable square feet. SmartStop and its affiliates own or manage 19 operating self storage properties in the Greater Toronto Area, which total approximately 16,200 units and 1.7 million rentable square feet.

Contacts

David Corak
VP of Corporate Finance

SmartStop Self Storage REIT, Inc.

949-542-3331

IR@smartstop.com

HBC Gifts Landmark Building to Southern Chiefs’ Organization

A Bold Vision for a Better Future – Grand Chief Daniels

ANISHINAABE & DAKOTA TERRITORY, Manitoba–(BUSINESS WIRE)–The Southern Chiefs’ Organization (SCO) is proud to announce its project to transform the iconic Hudson’s Bay Company (HBC) heritage building in downtown Winnipeg. Following traditional ceremony over two days, culminating in an announcement event held on Friday, HBC announced its intention to gift the building to SCO. Working closely with HBC and federal and provincial Treaty partners, SCO has developed a visionary plan to turn the building into a space for economic and social reconciliation.

“Today can be another step forward to a brighter future, one that reflects what our ancestors dreamed of,” stated Grand Chief Jerry Daniels. “This project is an act of reconciliation and is our vision to revitalize the heart of Winnipeg’s downtown, for the benefit of all, in line with our traditional, holistic approach to sustainable economic development.”

The project’s working title is Wehwehneh Bahgahkinahgohn, or ‘it is visible’, and it will be a public act of reclamation and reconciliation as First Nations become the new owners of the historic building. This year marks the 352^nd anniversary of Hudson’s Bay Company (HBC), the oldest company in North America and one entwined with the fur trade. This project can begin to tell a new story for First Nations, for HBC, and for Canada.

“As we considered the future for the Winnipeg building, it was important to ensure a sustainable plan for the site that also had meaningful purpose for the city of Winnipeg,” said Richard Baker, Governor and Executive Chairman of Hudson’s Bay Company. “HBC’s Truth and Reconciliation journey requires actions that demonstrate our commitment to moving forward together with Indigenous communities. We believe SCO is the right steward for this location, and can create a new community landmark that will help advance reconciliation.”

Everyone deserves a safe and affordable place to call home,” said The Right Honourable Justin Trudeau, Prime Minister of Canada. “By reimagining the iconic Hudson’s Bay Company building in Winnipeg’s downtown core, the Southern Chiefs’ Organization is helping preserve this historic building, while creating almost 300 much-needed housing units for members of the southern First Nations in Manitoba.”

Following an unprecedented year, with the discovery of unmarked graves of children who died at residential school, and the disproportionate economic, health, and social hardships brought on by the pandemic, now is the time to create a new and brighter future for First Nations people. The SCO project will give new life to the Bay building, including a place of reflection to honour residential and day school Survivors and the children who did not make it home. It will also create social and economic opportunity, including significant long-term employment and over a million working hours during the construction phase, putting people back to work after the COVID-19 pandemic.

“With this project, we are working with HBC and creating a new way of living and working together with Treaty partners to create better outcomes for us all,” said Peguis First Nation Chief Hudson, member of the SCO Chiefs’ Executive Committee. “This will be a new beginning for our people, for this important heritage building, and for everyone who will be brought together to live, work and visit this ground-breaking space.”

“The iconic Hudson’s Bay building is part of our province’s heritage and the social fabric of downtown Winnipeg,” said Premier Heather Stefanson. “We are pleased to see this unique partnership and act of reconciliation move forward that will certainly have a positive impact on the redevelopment of this landmark building and vibrant neighbourhood while also supporting our collective commitment to work collaboratively with Indigenous communities to build a brighter future for all Manitobans.”

“At the centre of Canada and at the crossroads of an Indigenous meeting place that is thousands of years old, Winnipeg is leading the way forward on Canada’s journey of reconciliation and today’s announcement is another step in the right direction,” said Mayor Brian Bowman. “I am proud to participate in today’s announcement of a vision led by the Southern Chiefs’ Organization and supported by the Hudson’s Bay Company and governments. Our country’s path to reconciling with Indigenous Peoples will be long, and will require the support of many, and steps like the actions here today.”

Environmental sustainability will be championed throughout the renewal of the Bay building, with the use of technologies to support the low carbon, low energy ideals including a 35 per cent reduction in energy consumption and an 81 per cent reduction in greenhouse gas emissions that closely align with First Nation values of treading lightly on the earth. Conservation principles will be incorporated throughout the renovation, while maintaining the distinguished and historic façade, making the building a showpiece of heritage preservation and sustainability.

The building will be further reimagined by a transformation of the main floor, creating a public space that honours our lands and waters, in an atrium illuminated by skylights and the soaring sky above. Once complete, the building will attract people from across Turtle Island and beyond as the area becomes a key draw for the celebration of First Nation heritage and culture with a museum and living art gallery, where for the first time First Nations will tell our own story. Two restaurants will attract downtown office employees, students from the nearby university as well as locals and tourists, drawn to a main floor featuring a café with a fresh take on First Nations’ cuisine and a rebooted Paddlewheel Restaurant.

“It’s been a difficult year for us all, but we are resilient and continue to work towards a better future,” added Sagkeeng Anicinabe Chief Derek Henderson, member of the SCO Chiefs’ Executive Committee and the Chiefs’ Finance and Personnel Committee. “The transformation of this historic building is a way out of the darkness and towards a better tomorrow. This project can set the standard for what reconciliation can look like, in the city with the largest Indigenous population in Canada.”

The improvement of First Nation peoples’ health and wellness is also incorporated into SCO’s project, with a health and healing centre that embraces both western and traditional medical practices. The rooftop garden will provide further space for wellness, as children in the child care centre can explore and plant their own garden, and residents and employees will be able to find fresh air and space to exercise or enjoy the natural world.

The historic building will also become the future Governance House for the Chiefs of the southern First Nations, the voice for 34 Anishinaabe and Dakota Nations, and more than 81,000 First Nation citizens, 10 per cent of all First Nation people in Canada. As leaders and stewards of this land, the Governance House will be a symbol of reclamation for our people for years to come.

The project team includes senior advisor Dr. Phil Fontaine, Founder and President of Ishkonigan, former three time National Chief of the Assembly of First Nations, and negotiator of the Indian Residential Schools Settlement Agreement which created the Truth and Reconciliation Commission of Canada. The Honourable Dr. Lloyd Axworthy, Nobel Peace Prize nominee and former Minister of Foreign Affairs Canada who revitalized the west end of downtown Winnipeg when he was President of the University of Winnipeg, is also a senior advisor to the project.

“This project represents SCO’s bold vision of what the future can hold,” concluded Grand Chief Jerry Daniels. “It can be a new world of hope and possibility, filled with place and space for our people to come together, to grow, create, and lead. A place for us to connect with people who come from across Turtle Island. A place for us to stand together in unity, speaking with one voice, proud of who we are. This is the vision of our ancestors.”

About SCO

The Southern Chiefs’ Organization represents 34 Anishinaabe and Dakota Nations and more than 81,000 citizens in what is now called southern Manitoba. SCO is an independent political organization that protects, preserves, promotes, and enhances First Nations peoples’ inherent rights, languages, customs, and traditions through the application and implementation of the spirit and intent of the Treaty-making process. For more information, visit https://scoinc.mb.ca/

About HBC

HBC is a holding company of investments and businesses at the intersection of technology, retail operations and real estate. It is the majority owner of iconic ecommerce companies: Saks, a leading online destination for luxury fashion; The Bay, a Canadian ecommerce marketplace; and Saks OFF 5TH, a premier luxury off-price ecommerce company offering top brands at the best prices. These businesses were established as separate operating companies in 2021. HBC also wholly owns Hudson’s Bay, the operating company for Hudson’s Bay’s brick-and-mortar stores, as well as SFA, the entity that operates Saks Fifth Avenue’s physical locations, and O5, the operating company for Saks OFF 5TH stores.

With assets spanning top markets and prime locations across North America, HBC owns or controls—either entirely or with joint venture partners—approximately 40 million square feet of gross leasable area. HBC Properties and Investments, the company’s real estate and investments portfolio business, manages these assets along with additional real estate offerings, including Streetworks Development, its property development division.

Founded in 1670, HBC is North America’s longest continually operating company and is headquartered in New York and Toronto. For more information visit: www.hbc.com.

Contacts

For Media Inquiries:

Southern Chiefs’ Organization

Email: Media@scoinc.mb.ca
www.scoinc.mb.ca

Tiffany Bourré, DVP of Communications, PR and Heritage, The Bay

416-571-1301 | Email: tiffany.bourre@thebay.com

WINNIPEG, Manitoba–(BUSINESS WIRE)–An historic announcement will be made this morning followed by a news conference regarding the future vision for the Hudson’s Bay Building in downtown Winnipeg.

When:		10:00 am – 12:00 pm, CST
Where:		Hudson’s Bay Heritage Building
		Entrance at the corner of Portage and Memorial
		450 Portage Avenue, Winnipeg
Who:		Southern Chiefs’ Organization Grand Chief, Jerry Daniels
		HBC Governor, Richard Baker
		The Right Honourable Justin Trudeau, Prime Minister of Canada
		The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion
		The Honourable Patty Hajdu, Minister of Indigenous Services Canada
		The Honourable Dan Vandal, Minister of Northern Affairs and Minister responsible for Prairies Economic Development Canada
		The Honourable Heather Stefanson, Premier of Manitoba
		His Worship Brian Bowman, Mayor of Winnipeg
In Attendance: members of the Southern Chiefs’ Organization Chiefs’ Executive Committee and Chiefs’ Finance and Personnel Committee
		Chief Derrick Henderson, Sagkeeng Anicinabe First Nation
		Chief Glenn Hudson, Peguis First Nation
		Chief Cornell McLean, Lake Manitoba First Nation
		Chief Trevor Prince, Sandy Bay Ojibway First Nation
Required		Accredited members of the press only. ID must be presented.
for Entry:		Proof of vaccination required
More information will be distributed at the event, and a moderated media QA will be facilitated following the announcement.

 

Contacts

Email: Media@scoinc.mb.ca
www.scoinc.mb.ca

Tiffany Bourré, DVP of Communications, PR and Heritage, The Bay

416-571-1301 | Email: tiffany.bourre@thebay.com

LOUISVILLE, Ky.–(BUSINESS WIRE)–In 2019, Premier Packaging’s state-of-the-art, 305,000-square-foot headquarters and corporate distribution center opened at 4301 Produce Road. Just a few years before, the 17 acres had been a brownfield property, a former industrial site compromised by environmental issues that hindered redevelopment.

Premier and the property’s former owner spent money and 3 ½ years cleaning up the property beyond government requirements. “We’ve continued sustainability by bringing a fallow site back to service to benefit the community,” said project manager Charles P. Marsh.

How Groundwater Became Contaminated

The site formerly housed a plant that used heat and dies to reshape aluminum for different industries. A metal degreaser, carcinogenic tetrachloroethylene (PCE), was regularly pumped into the plant from a tanker truck via a hose and coupling. Over time, a leak developed, with the dripping PCE forming a contaminated plume in the site’s groundwater.

The site’s then-owner installed 25 monitoring wells on the site and nearby commercial properties and operated a $100,000-per-year water filtration system. By 2015, PCE groundwater levels had fallen enough for Kentucky EPA officials to allow the suspension of the filtration system. The site went up for sale, but the environmental issues scared away potential buyers.

Premier Takes on the Challenge

Enter Premier Packaging owner John Gaynor, who thought the location was perfect for consolidating operations from three different facilities for his company. Premier provides custom-made packaging and shipping solutions for customers in North and South America.

New technology was used to inject a slurry of solid iron and activated carbon directly into the water plume, breaking down the PCE into less dangerous components. As PCE groundwater levels have declined, the state of Kentucky has allowed the closure of more of the monitoring wells. Currently four wells on site are tested twice a year.

During construction of Premier’s facility, environmental compliance was tedious. No dirt could be taken off the site without testing by an environmental engineer. Unsafe dirt was sent to a controlled landfill.

The extra work and expense were worth it, according to Gaynor. “Here was an inactive site that some might consider a liability. Instead, we cleaned it up and turned it into a wonderful corporate distribution facility and a great economic asset for the community.”

Contacts

Mackenzie Crigger, Sustainability Manager, Premier Packaging, 714.504.4709, mcrigger@prempack.com