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Cision Canada
2 days ago
- Business
- Cision Canada
RICHARDS PACKAGING INCOME FUND ANNOUNCES JULY 2025 DISTRIBUTION
TORONTO, July 18, 2025 /CNW/ - Richards Packaging Income Fund (TSX: (the "Fund") announced today its cash distribution for the month ended July 31, 2025 of Cdn$0.11 per unit. This distribution will be to unitholders of record at the close of business on July 31, 2025 and will be payable on August 14, 2025. Unitholders who are non-residents of Canada may be required to pay all withholding taxes payable in respect of any distributions of income by the Fund, whether such distributions are in the form of cash or additional units. About Richards Packaging Income Fund The Fund owns Richards Packaging Inc. which since 1912 has served a wide customer base throughout North America comprised of over 18,000 regional food, beverage, cosmetics, healthcare, and other enterprises. SOURCE Richards Packaging Inc.
Cision Canada
3 days ago
- Business
- Cision Canada
APPLIED GRAPHITE ANNOUNCES AMENDMENT TO PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT OF UP TO $1,000,000
VANCOUVER, BC, /CNW/ - Applied Graphite Technologies Corporation (" AGT"), (TSXV: AGT) announces that it has amended the previously announced non-brokered private placement offering to instead offer up to 16,666,667 common shares (" Common Shares") at a price of Cdn$0.06 per share for gross proceeds of up to Cdn$1,000,000 (the " Offering"). Existing insiders of AGT intend to purchase a portion of the Offering. Participation by insiders of AGT in the Offering constitutes a related-party transaction as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101"). The issuance of securities is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 on the basis that the fair market value of the insiders' participation in the Offering, as determined in accordance with MI 61-101, shall not exceed 25% of the Company's market capitalization. The Offering is scheduled to close on or about July 21, 2025 and is subject to the Company receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Finder's fees of 8% in cash may be payable on a portion of the Offering. All securities to be issued pursuant to the Offering will be subject to a four-month hold period under applicable securities laws in Canada. The net proceeds of the Offering will be used by AGT for project development and general working capital purposes. This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws. About Applied Graphite Technologies Applied Graphite Technologies is developing the Queens Mine Complex in Sri Lanka. The QMC is on private land in the heart of the vein graphite district, with historical workings and vein graphite outcrops. Vein graphite is naturally high grade (+95% carbon content in the ground) and does not require primary processing. Testing of vein graphite in lithium-ion battery anodes has shown very high capacities, performing better than synthetic graphite. Natural vein graphite has a far superior ESG footprint than synthetic and is cheaper without compromising performance. The technical information in this news release has been prepared by Don Baxter, a "qualified person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management's current expectations and assumptions. The forward-looking information includes statements about Applied Graphite Technologies (AGT)'s plans and the completion of the Offering and the amount to be raised by AGT. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to AGT, including the assumption that approvals will be obtained. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things, the receipt of TSXV approval of the Offering. AGT cautions the reader that the above list of risk factors is not exhaustive. Except as required under applicable securities legislation, AGT undertakes no obligation to publicly update or revise forward-looking information.
Global News
3 days ago
- Business
- Global News
How Canada's oil sands transformed into one of North America's lowest-cost energy producers
Giant shovels, driverless trucks and a dog-like robot have all helped Canada's oil sands companies including Imperial Oil and Suncor become some of North America's lowest-cost oil producers, driving down overheads even as the worst inflation in a generation pushed U.S. shale costs up. As the global oil industry enters a downturn due to economic uncertainty related to U.S. tariffs policy and OPEC+ pumping more barrels, Canada's oil sands industry finds itself in a position of strength. In the years following the oil price crash of 2014-15, international oil majors including BP, Chevron and Total sold their interests in Canadian oil sands. At the time, they classified the Canadian operations as among their more expensive, and therefore less profitable, projects worldwide. They directed their capital to cheaper oil production and favored U.S. shale for its quicker drilling time and returns. Since then, new technology and cost-cutting efforts have driven meaningful improvement in the industry's competitiveness that make oil sands among the cheapest producers, according to a dozen industry insiders and a Reuters analysis of the latest U.S. and Canadian company earnings. Story continues below advertisement While U.S. shale companies are responding to this year's oil price downturn by dropping rigs, slashing capital spending and laying off workers, the oil sands' position of strength means Canadian companies have made virtually no changes to their previously announced production or spending plans. Some Canadian politicians are now calling for a new crude pipeline from Alberta to the Pacific coast, as part of a broader effort to strengthen the country's economy in the face of U.S. tariff threats. 1:33 As global oil prices plunge, Alberta's energy sector prepares The lower crude prices this year have little impact on the Canadian oil sector, Cenovus CEO Jon McKenzie said in an interview earlier this year. 'This is an industry that has become much more resilient through time,' he said. In one example, two four-legged robots— each nicknamed Spot because of their dog-like appearance — prowl Imperial's vast 45-year-old Cold Lake operation in Alberta, conducting routine equipment inspections and maintenance such as heat exchanger optimizations, and oil/water tank interface monitoring. Story continues below advertisement The Spots free up human workers for other work and save Imperial $30 million (Cdn) per year, the company said. Get weekly money news Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday. Sign up for weekly money newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Exxon-owned Imperial and its competitor Suncor have also switched to autonomous mining vehicles, eliminating the need to hire drivers to transport oil sands ore. The switch has improved oil output productivity at Imperial's Kearl oil sands mine by 20 per cent since 2023, the company said. Suncor operates a 900-tonne truck at its Fort Hills operation north of Fort McMurray, Alberta, which the company says is the world's largest hydraulic mining shovel. Suncor CEO Rich Kruger said the shovel's larger bucket and more powerful digging force deliver faster ore loading and less spillage. Oil sands producers have also made improvements in equipment reliability and performance. At Kearl, for example, Imperial has reduced expenses related to turnarounds — an industry term for the costly periods of required maintenance that often involve temporarily shutting down production — by $100 million (Cdn) annually since 2021. The company cut the time between turnarounds from 12 to 24 months in 2024 and aims to extend that interval to 48 months in future. Suncor credits efforts including standardizing maintenance practices across mines and improving management of site water to get more production out of existing assets for contributing to the company's $7 (U.S.) per barrel reduction in its West Texas Intermediate (WTI) break-even price in 2024 to $42.90. Story continues below advertisement This long-term focus on cost-cutting means Canada's five biggest oil sands companies can break even — and still maintain their dividends — at WTI prices between $43.10 and $40.85, according to a Bank of Montreal analysis for Reuters. That means oil sands producers have lowered their overall costs by approximately $10 a barrel in about seven years. Oil sands had an average break-even price of $51.80 per barrel between 2017 and 2019, according to BMO. In contrast, a recent Dallas Federal Reserve survey of over 100 oil and gas companies in Texas, New Mexico and Louisiana found that shale oil producers need a WTI oil price of $65 per barrel on average to profitably drill. Back in 2017-2019, U.S. shale producers had a break-even price of between $50 and $52 per barrel. 1:56 Dramatic crash in global oil prices–Here's why Canada is watching closely Part of the reason that the oil sands industry has become so cost competitive is the nature of the extraction process. Story continues below advertisement Producing the thick, sticky oil that is found in the sands of Alberta is in some locations more akin to mining than oil drilling. Where the oil is very close to the surface, companies operate massive mines, scraping up huge volumes of sand and clay and then filtering out the oil. When the oil is deeper, companies inject steam underground to loosen the deposits and then use a drilling process. An oil sands mine has big initial start-up costs but once it is operational, it can run for decades with very low production decline rates. Canadian Natural Resources for example, at the end of 2024 had proved and probable reserves amounting to 20.1 billion barrels of oil equivalent in its portfolio, giving its oil sands mining and upgrading assets a remaining reserve lifespan of 43 years. The company's Horizon oil sands mine has been producing since 2009. Shale oil wells, by contrast, have low start up costs. Oil output from the wells, however, begins to decline within months. Prices have begun to climb because after years of heavy drilling in the top shale fields, the most productive areas have been exhausted. Drillers are moving onto secondary areas, so they have to drill more wells to achieve the same output and that has driven up costs. Canadian oil sands companies have also paid down debt in the past five years, allowing them to reallocate profits away from shoring up their balance sheets and towards rewarding shareholders with dividends and buybacks. Story continues below advertisement 1:54 Can Canada really build another oil pipeline? According to the Bank of Montreal, oil sands producers Canadian Natural Resources, Suncor, Cenovus, Imperial Oil and MEG Energy currently have combined net debt, excluding lease liabilities, of $33.9 billion (Cdn) after paying down a combined total of almost $22 billion in debt between 2021 and 2024. As returns grow, Canadian oil sands producers are an increasingly attractive investment for those looking to make money from the energy industry, said Kevin Burkett, portfolio manager with Vancouver-based Burkett Asset Management. '(Canada's oil sands) are not geopolitically risky, and they have some very appealing characteristics around productivity and costs,' said Burkett, who has shares of Canadian Natural Resources and Cenovus in his portfolio.
Yahoo
4 days ago
- Business
- Yahoo
Freehold Royalties Declares Dividend for July 2025
CALGARY, Alberta, July 15, 2025 (GLOBE NEWSWIRE) -- Freehold Royalties Ltd. (Freehold) (TSX: FRU) announces that its Board of Directors has declared a dividend of Cdn. $0.09 per common share to be paid on August 15, 2025 to shareholders of record on July 31, 2025. These dividends are designated as 'eligible dividends' for Canadian income tax purposes. Freehold is uniquely positioned as a leading North American energy royalty company with approximately 6.1 million gross acres in Canada and approximately 1.2 million gross drilling acres in the United States. Freehold's common shares trade on the Toronto Stock Exchange in Canada under the symbol FRU. Freehold Royalties Ltd. Todd McBride, CPA, CMAInvestor Relationst. 403.221.0833e. tmcbride@ Nick Thomson, CFAInvestor Relations t. 403.221.0874 e. nthomson@ w.
Edmonton Journal
5 days ago
- Politics
- Edmonton Journal
Wife of French president appeals in gender rumours case: lawyer
Article content Paris — France's first lady has taken her case against two women over claims she used to be a man to the highest appeals court after a lower court let them off, her lawyer said Monday. Article content On Thursday, the Paris appeals court overturned earlier convictions against the two women for spreading false claims — that went viral online — that Brigitte Macron, 72, used to be a man. Article content Article content Article content Article content Brigitte Macron filed a libel complaint against the two women after they posted a YouTube video in December 2021, alleging she had once been a man named Jean-Michel Trogneux — who is actually Brigitte Macron's brother. Article content In the video, defendant Amandine Roy, a self-proclaimed spiritual medium, interviewed Natacha Rey, a self-described independent journalist, for four hours on her YouTube channel. Article content Rey spoke about the 'state lie' and 'scam' she claimed to have uncovered that Jean-Michel Trogneux had changed gender to become Brigitte, and then married the future president. Article content The claim went viral, including among conspiracy theorists in the United States. Article content A lower court in September last year had ordered the two women to pay 8,000 euros (about $12,800 Cdn) in damages to Brigitte Macron, and 5,000 euros to her brother. Article content Brigitte Macron's lawyer Jean Ennochi told AFP Sunday that her brother, too, was taking his case against the dismissal of the charges to the highest appeals court, the Court de Cassation. Article content
