A roundup of the most newsworthy press
releases from Cision Distribution this week
TORONTO, July 26,
2024 /CNW/ - With thousands of press releases
published each week, it can be difficult to keep up with everything
on Cision. To help journalists and consumers stay on top of the
week's most newsworthy and popular releases, here's a recap of some
major stories from the week that shouldn't be missed.
The list below includes the headline (with a link to the full
text) and an excerpt from each story. Click on the press release
headlines to access accompanying multimedia assets that are
available for download.
- A&W Revenue Royalties Income Fund and A&W Food
Services of Canada Announce Strategic Combination
A&W Revenue Royalties Income Fund (TSX: AW.UN) (the
"Fund") and A&W Food Services of Canada Inc. ("A&W Food
Services") today announced that they have agreed to a strategic
combination (the "Transaction") that will create a leading publicly
traded growth-focused QSR franchisor ("A&W Food Services
NewCo"). Following closing, A&W Food Services NewCo will
provide converting unitholders with full and direct access to
significantly greater growth and capital appreciation potential and
expects to pay attractive quarterly dividends at the same
annualized rate as the current monthly distributions paid to the
Fund's unitholders (currently equal to $1.92 per
unit).
- ALIMENTATION COUCHE-TARD ANNOUNCES AGREEMENT TO REPURCHASE
8,695,652 COMMON SHARES
The repurchase will be made in connection with the periodic
portfolio rebalancing of CDPQ. Once the repurchase is completed,
CDPQ will hold approximately 32.8 million shares, representing
approximately 3.5% of Couche-Tard's total shares outstanding. "This
transaction is consistent with our opportunistic approach regarding
our share repurchase program and broader capital allocation
priorities and represents a distinct opportunity to create
shareholder value. Our healthy balance sheet and strong financial
position, highlighted by our leverage ratio in line with our
customary financial discipline, allows us to be well-positioned for
opportunities like this to deploy excess cash on-hand"
said Filipe Da Silva, Chief Financial Officer.
- Canfor Announces Leadership Transition
Today, Canfor is also announcing the appointment of Susan
Yurkovich as the Company's next Chief Executive Officer.
Currently serving as Canfor's Senior Vice President of Global
Business Development, Ms. Yurkovich brings three decades of
experience working in the natural resources sector to the role, 12
of those years with Canfor. She has served in executive roles in
both forestry and energy including as President and CEO of the BC
Council of Forest Industries and Executive Vice President at BC
Hydro. Ms. Yurkovich's appointment as CEO will take
effect January 1, 2025. Mr. Kayne will continue in an advisory
capacity through 2025.
- JNF Canada Files Legal Appeal
Throughout this multi-year process JNF Canada has demonstrated its
willingness to work with the CRA. When the CRA raised
concerns, JNF Canada made changes to its operations in the spirit
of collaboration even though it does not agree with CRA's positions
and those positions have not been tested in court. JNF Canada also
sought alternatives to the revocation prior to launching its legal
challenge. JNF Canada remains deeply concerned with the CRA's
decision to revoke its charitable status and its failure to provide
a fair due process, thereby undermining a basic fundamental right
for all Canadians. At the same time, JNF Canada emphasized that it
remains open to liaising with the CRA in the hope of
reaching a resolution outside of the legal
process.
- Sleep Country to be Acquired by Fairfax
"We have concluded that this transaction is in the best interests
of Sleep Country and is fair to our shareholders. Following a
comprehensive assessment and our extensive negotiations with
Fairfax, we are pleased to have reached an agreement that provides
certainty of significant and immediate value to shareholders"
said Christine Magee, Chair of the special committee of
independent directors of Sleep Country that oversaw the negotiation
of the Transaction (the "Special Committee"). The Transaction will
be implemented by way of a court-approved plan of arrangement under
the Canada Business Corporations
Act (the "Arrangement") and is expected to close in the
fourth quarter of 2024.
- NEW GOLD REPORTS FATALITY AT THE RAINY RIVER MINE
New Gold Inc. ("New Gold" or the
"Company") (TSX: NGD) (NYSE American:
NGD) deeply regrets that early this morning, July
24th, 2024, an employee operating a piece of equipment
in the open pit was fatally injured at the Rainy River Mine in
northwestern Ontario. The health, safety and wellbeing of our
employees is our top priority. The Company is working closely with
local authorities and an investigation is underway. Operations have
been voluntarily suspended. The thoughts of management are with the
family, friends and colleagues who have been impacted by this
tragic incident. The Company will provide additional information as
appropriate.
- Air Canada Provides Second Quarter 2024 Preliminary Results
and Updates Full Year 2024 Guidance
Operating revenues of about $5.5
billion, on 6.5% increased operated capacity year-over-year,
as compared to about $5.4 billion in
Q2 2023 - Operating income of $466
million, with an operating margin of 8.4%, as compared to
$802 million in Q2 2023 -Adjusted
EBITDA* of $914 million, as compared
to about $1.2 billion in Q2 2023. All
2024 second quarter figures reported in this news release are
preliminary estimates. Air Canada's interim unaudited
condensed consolidated financial statements for the second quarter
of 2024 are not yet complete and results for second quarter 2024
may vary from these preliminary estimates upon completion of
closing procedures and finalization of the interim unaudited
condensed consolidated financial statements.
- Tim Hortons and Ryan Reynolds team up to celebrate the release
of Marvel Studios' "Deadpool & Wolverine," only in theatres
July 26
Tim Hortons is excited to be teaming
up with Marvel Studios Canada and Ryan
Reynolds to celebrate the launch of the most-anticipated
movie of the summer, Marvel Studios' "Deadpool & Wolverine,"
which opens exclusively in theatres across the country this Friday.
"Like Tims, this movie is so Canadian in so many ways – the
Deadpool character is from Saskatchewan and Wolverine is from
Alberta, and the movie is directed
by Montreal-native Shawn Levy – and we all thought we could have
some fun bringing Canada's
favourite coffee and Canada's
favourite Super Hero together." Tim
Hortons is also proud to be sponsoring tonight's Canadian
special screening of "Deadpool & Wolverine" in Toronto.
- $500M Settlement Reached with
George Weston Limited and Loblaw Companies Limited in Packaged
Bread Price-Fixing Class Action
Strosberg Wingfield Sasso LLP, Orr Taylor LLP, Renno &
Vathilakis Inc., LPC Avocats, CFM Lawyers LLP, and Boudreau
Law announced today, on behalf of the plaintiffs, that they
have entered into binding minutes of settlement with George Weston
Limited ("George Weston") and Loblaw
Companies Limited ("Loblaw") to settle George Weston and
Loblaw's involvement in nationwide class action lawsuits related to
industry-wide price fixing for certain packaged bread products. The
plaintiffs allege that the defendants participated in
a 14-year industry-wide price fixing conspiracy leading to an
artificial increase in packaged bread prices. The $500M settlement is the largest anti-trust
settlement in Canadian history. The settlement is subject to
finalizing a formal settlement agreement between the parties and
court approval.
- WestJet announces record-level investments across
Saskatchewan this
winter
Airline underscores commitment to boosting domestic, transborder
and leisure connectivity across the province through increased
convenience and added frequencies. "We are proud to
expand Saskatchewan's domestic service and forge new
critical connections across the country, as we further solidify our
position as the province's leading air carrier," said John
Weatherill, WestJet Executive Vice-President and Chief Commercial
Officer. "As the only airline offering non-stop connectivity
from Saskatchewan to transborder and international
destinations this winter, while
providing Regina and Saskatoon with the most
domestic connectivity, our investments will further stimulate
business and leisure travel opportunities as we continue to execute
on our growth strategy."
Read more of the latest releases from
Cision, see our resources for
journalists, and stay caught up on the top press
releases by following @cnwnews.
About Cision Canada
Cision is a comprehensive communications platform enabling more
than 100,000 public relations and marketing professionals around
the world to understand, influence and amplify their stories. As
the market leader, Cision enables the next generation of
communication professionals to strategically operate in the modern
media landscape where company success is directly impacted by
public opinion. Cision has offices in 24 countries through the
Americas, EMEA and APAC, and offers a suite of best-in-class
solutions, including Newswire, Brandwatch, Cision Communications
Cloud® and Cision Insights. To learn more, visit
www.cision.ca and follow @CisionCA on Twitter.
SOURCE Cision Canada