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Canada’s Laws Must Respect First Nations Rights: AFN National Chief Perry Bellegarde on Supreme Court of Canada Decision on Mikisew

Canada’s Laws Must Respect First Nations Rights: AFN National Chief Perry Bellegarde on Supreme Court of Canada Decision on Mikisew

October 19, 2018

(Ottawa, ON) – Following today’s decision by the Supreme Court of Canada regarding Mikisew Cree First Nation stating that the federal government does not need to consult with First Nations prior to tabling legislation, Assembly of First Nations (AFN) National Chief Perry Bellegarde says Canada still has a duty to ensure its laws respect and honour First Nations rights and title.

“Today’s decision is disappointing, but it does reaffirm the federal government’s duty to uphold the Honour of the Crown, and that means respecting First Nations rights in any legislation,” said AFN National Chief Perry Bellegarde.  “This case is the result of misguided attempts by the previous federal government to override our rights. The court itself says any legislation that does not respect First Nations rights or meet the Crown’s obligations can be challenged.  First Nations are up for the challenge when these obligations aren’t met, but it shouldn’t have to get to that.  With full and meaningful engagement with First Nations at the outset of any initiative that could impact rights or our territories, we can and will produce better results and avoid costly, lengthy legal challenges.”

The 78 page judgment in the case of Chief Steve Courtoreille on behalf of himself and the members of the Mikisew Cree First Nation v. Governor General in Council et al., SCc 37441 was released this morning.

“First Nations are rights holders, not stake holders, and I lift up the Mikisew Cree for their fortitude and fully support them and all First Nations in asserting rights,” said National Chief Perry Bellegarde.  “The federal government has pledged to honour First Nations’ inherent rights and Treaty rights and to work with us to implement the UN Declaration, and I will continue to hold them to this standard. I will continue to push for a full review of all federal laws and policies to ensure that First Nations rights are reflected and respected.”

The Courtoreille/Mikisew Cree Nation case deals with Canada’s duty to consult with First Nations before introducing legislation. It arose in 2012 when the Minister of Finance introduced two omnibus bills that amended Canada’s environmental protection and regulatory legislative scheme. In 2013, Mikisew Cree First Nation, under Chief Steve Courtoreille, filed a judicial review application on the basis that Canada did not consult the Mikisew Cree First Nation on these changes which had potential to impact Mikisew’s Treaty rights. Canada does have an established duty to consult and accommodate when Indigenous rights and Treaties are affected. The issue in this case if that duty applies to the legislative process.

The AFN is the national organization representing First Nations citizens in Canada. Follow AFN on Twitter @AFN_Updates.


For media requests or more information, please contact:

Jenna Young Castro
AFN Communications Officer
613-241-6789 ext 201
613-314-8157 (cell)

Monica Poirier
Bilingual Communications Officer
Assembly of First Nations
613-241-6789 ext. 382


Alberta Justice adding $4.5 million for services, tools to aid victims of crime – CP

Source: The Canadian Press
Oct 19, 2018

CALGARY _ Alberta is adding another $4.5 million to its victims of crime fund.

Justice Minister Kathleen Ganley says the money will go to a number of initiatives, including $1.1 million to help police help victims.

The money, spread out over the next three fiscal years, will go to victim service units in Calgary, Edmonton, Red Deer, Grande Prairie, Lethbridge, Medicine Hat and the Regional Municipality of Wood Buffalo.

The units help victims cope as their cases move from the investigation phase to court.

There will also be more money to support victims of domestic violence, with details to be announced in the coming months.

Funds will also be used to help indigenous communities, pay for restorative justice measures and buy tools to aid victims in court, such as screens and closed-circuit TV upgrades.

Ganley said funding for the services has been flat for years.

“Helping victims in their darkest days is meaningful and important work,” Ganley said Friday.

“The government’s role is to support these organizations to ensure that they can do this work.”


AB Government: Improving support for victims of crime

October 19, 2018

The Alberta government is ensuring victims of crime have the help they need with a five-point plan that will strengthen support for victims.

An additional $4.5 million in available money from the Victims of Crime Fund will improve the scope and quality of programs for victims of crime in five key areas. The increase in available funding will go towards police-based victim services units, support for domestic violence survivors, help for victims in court, restorative justice initiatives and expanding outreach services for Indigenous victims.

“Albertans affected by crime deserve to feel supported and respected during an incredibly difficult time. These funds will ensure programs and services can continue to support victims of crime when and where they need it. I commend the staff and volunteers who do this important work day in and day out.”

Kathleen Ganley, Minister of Justice and Solicitor General

Victim service units work across Alberta supporting victims of crime during police investigations and throughout the criminal justice process. Available funding will nearly double for police-based victim services units in seven municipalities – Edmonton, Calgary, the Regional Municipality of Wood Buffalo, Red Deer, Grande Prairie, Lethbridge and Medicine Hat.

“This new funding announcement will have a huge, positive impact on the lives of victims of crime in Alberta. The additional funding for victim service units across the province will afford them the ability to hire additional staff as well as enhance the already indispensable services they currently offer toward supporting victims, survivors and their families. We look forward to continuing to work with our government to grow, maintain and enrich the services delivered to victims of crime in Alberta.”

Brian Turpin, past president, Alberta Police Based Victim Services Association

“People often have no idea where to go for support or what rights they have when they become victims of crime or tragedy. Victim assistance teams are a vital link that helps people navigate the criminal justice process and connect with the supports they need while they deal with very complex and emotional situations. The funding announced today will help ensure that police agencies across the province can offer this critical service to Albertans when they need it.”

Roger Chaffin, Chief Constable, Calgary Police Service

“Victim service units do invaluable work across Alberta. I learned this first-hand when my husband was murdered in 2009 in the Crowsnest Pass. After his death, volunteers were there for me. They listened to me through my grief, they picked up their phones day and night to answer my questions about court processes, and they sat beside me during the trial. I don’t know where I would be today, if it wasn’t for their help and guidance.”

Cindy English, wife of George Steve English

Highlights of the plan to strengthen support for crime victims

Funding boost for police-based victim services units

Additional money will ensure high demand programs in Edmonton, Calgary, Red Deer, Grande Prairie, Lethbridge, Medicine Hat and the Regional Municipality of Wood Buffalo can continue helping Albertans, and enable these assistance teams to provide support to surrounding areas.

Support for survivors of domestic violence

Preventing and addressing family violence is a high priority, and additional funds will be used to enhance province-wide services that address the complex needs of survivors of domestic violence. More information about these initiatives will be available in the coming months.

Aiding victims in court

Dedicated staff and the purchase and upgrade of testimonial aids, such as screens and closed-circuit television upgrades, in courtrooms across the province will help ensure vulnerable victims and witnesses are able to participate in court processes, provide testimony and navigate the justice system with more confidence.

Helping Indigenous communities

Expanding the existing Indigenous Victims Outreach Services program into more communities will increase access to support for Indigenous victims of crime in both urban and rural settings.

Creating opportunities for restorative justice

An increase in grant funding available will help support restorative justice initiatives in communities across the province.


  • Funding for police-based victim services units in Edmonton and Calgary will increase from $300,000 to $500,000 each in 2018-19 and to $600,000 for the next three fiscal years.
  • Funding for police-based victim services units in Red Deer, Grande Prairie, Lethbridge and Medicine Hat will double from $150,000 to $300,000 each in 2018-19 and the next three fiscal years.
  • Grant funding for the police-based victim services unit in the Regional Municipality of Wood Buffalo was quickly increased to help victims after the Wood Buffalo Region wildfire in 2016. Available funding for the area will increase from $265,000 to $300,000 in 2018-19 and the next three fiscal years.

Related information

Media inquiries
Annalise Klingbeil
Press Secretary, Justice and Solicitor General


Blackfoot name Ohkotoki’aahkkoiyiiniimaan, or Stone Pipe, given to Lethbridge College at Indigenous Celebration Day

October 19, 2018

Evoking the image of strength and straight paths, and celebrating promises made with honesty and integrity, Kainai Kaahsinnoonik (Grandparent) Peter Weasel Moccasin gave Lethbridge College a Blackfoot name this morning at a ceremony that kicked off the institution’s annual Indigenous Celebration Day.

The name given to the college is Ohkotoki’aahkkoiyiiniimaan, which means Stone Pipe. As Elder Peter Weasel Moccasin explained during the ceremony, stone pipes are used in sacred ceremonies of the Blackfoot people to make an offering to Iihtsipaatapi’op, the Source of Life. The pipe, he said, kept and keeps the Blackfoot people at peace.

Read the entire meaning behind the name Ohkotoki’aahkkoiyiiniimaan here.

Weasel Moccasin described how that the offering of a stone pipe is a promise or a peace bond made with the honesty and integrity needed to fulfill the commitment. During the offering of the pipe, everyone involved must uphold and carry out the promises made.

“We are so incredibly grateful to receive this name from our local Blackfoot community,” says Dr. Paula Burns, President and CEO of Lethbridge College. “We recognize the importance of Indigenous education and the vitally important perspectives that the local Indigenous community bring to the work that we do here every day. We will respect our name with a promise to continue on the straight path to improving the lives of our students and the communities that they call home.”

The land where Lethbridge College sits is the traditional territory of the Blackfoot people and the giving of a Blackfoot name is an important step towards strengthening ties with the local Indigenous community.

“Today is a very important day in the college’s history,” says Marcia Black Water, Lethbridge College Indigenous Services coordinator. “The Blackfoot name received today has great significance to the land Lethbridge College is situated on. The stone found for Blackfoot ceremonial pipes can be found in the coulees’ river bottom on the west side of the college. The name will see us through the future, a future in which Blackfoot people, all Indigenous people will be reminded that quality education is a promise our college will hold true. The name promises a coming together, good relations.”

Shanda Webber, Lethbridge College manager of Recruitment and Indigenous Services, adds: “It truly is an honour for Lethbridge College to be receiving a Blackfoot name. The naming ceremony recognizes and celebrates the meaningful relationship between the college and the local Blackfoot community, as well as solidifies our commitment and responsibility in making Indigenous education a priority.”

This fall, 374 Indigenous students are taking diploma, degree or certificate programs at Lethbridge College, representing 8.6 per cent of the college’s diploma, degree and certificate students. Lethbridge College’s efforts towards serving Indigenous students both in and out of the classroom earned it a bronze Indigenous Education Excellence award in May from Colleges and Institutes Canada (CICan). The college has proudly had Indigenous students on campus for most of its 60 years and provides a “Circle of Services” to assist Indigenous learners.

Indigenous Services at Lethbridge College, in collaboration with many internal and external stakeholders, developed a three-year Niitsitapi Indigenization Plan for 2016-19. In addition, in recognition of the recommendations emanating from the Truth and Reconciliation Commission of Canada and as a signatory of CICan’s Indigenous Education Protocol, the college has also implemented an Indigenous President’s Council. This council is composed of college and Indigenous community leaders and provides guidance and direction to an internal Indigenous committee as it works to implement a three-year Indigenization Plan, which will further enhance its already extensive program and service offerings.


Lethbridge College President receives Blackfoot name

October 18, 2018

Lethbridge College President and CEO Dr. Paula Burns received a Blackfoot name at a ceremony held in conjunction with the college’s Indigenous Celebration Day Thursday. Burns’ name is Piita’gaaksiimaaki which means Eagle Whistle Woman. It was bestowed by the college’s Kainai Kaahsinnoonik (Grandparent) Peter Weasel Moccasin.

Weasel Moccasin said the name represents the overcoming of challenges in life and how a person can rise to to face adversity. He told a story of how a journey in his life to retrieve a sacred family object helped him in his battle with alcoholism, and led to a role as a weather dancer for a sacred Okan (Holy Woman). Dr. Burns’ name is tied to the leadership and sacrifice of that Holy Woman.

“I felt that it was a very appropriate name for her because she helps numerous people globally and locally,” said Weasel Moccasin. “She helps them get educated in a good way, so that when they leave this college, they’ll be able to find the things they want to do in life. She has that responsibility.”

The college’s eighth president and CEO, Dr. Burns came to Lethbridge in February 2013. She has worked closely with local Indigenous communities both inside and outside of the college to advance awareness, education and inclusion of Indigenous culture.

“I am blessed and I am humbled,” said Dr. Burns. “I am very respectful of what it means to be given a Blackfoot name, and the responsibility that goes with it. It’s a huge honour to be made a part of this community and it means that we have leadership opportunities.”

During her tenure, Lethbridge College has collaborated with many internal and external stakeholders to develop a three-year Niitsitapi Indigenization Plan for 2016-19; to permanently raise the Blackfoot Confederacy flag on campus in 2017; and to create an Indigenous President’s Council. Dr. Burns maintains an ongoing dialogue with local Indigenous leaders on that council.

Dr. Burns has also served as a member of Colleges and Institutes Canada’s (CICan) Indigenous Education Committee that launched the Indigenous Education Protocol for Colleges and Institutes in 2015, of which Lethbridge College is a signatory member. Lethbridge College’s efforts towards serving Indigenous students both in and out of the classroom earned it a bronze Indigenous Education Excellence award in 2017 from CICan.

“I am so proud and honoured to work for a post-secondary institution that is so invested in making Indigenous education a priority,” said Shanda Webber, manager of Recruitment and Indigenous Services. “Our goal is to provide a sense of belonging, a ‘home away from home’ for all Indigenous students, First Nations, Métis and Inuit learners, and assist them in their journey of attaining a post-secondary education.”

Earlier in the day, the college unveiled the permanent Ohkotoki’aahkkoiyiiniimaan display in Centre Core. Named after the college’s Blackfoot name, which means Stone Pipe, the display strongly identifies the college’s location on traditional Blackfoot Territory, while welcoming visitors to campus.

Display pieces include moccasins made by alumna Torry Eagle Speaker and student Dylan Daniels; an authentic buffalo robe; the raw materials needed to create a traditional stone pipe; and a custom art piece created by Blackfoot artist William Singer III. The artifacts were chosen to help weave the story of the Blackfoot people and their ties to the land.

“Lethbridge College has been working and learning together to give honour to Blackfoot Territory, our students and community of the Blackfoot Confederacy nations, to give a sense of pride in culture and home,” said Marcia Black Water, coordinator, Indigenous Services. “Our hope is to have people come into our college and be able to learn about what it means to stand on Blackfoot lands.”

The Ohkotoki’aahkkoiyiiniimaan display was made possible thanks to funding from the RBC Foundation. RBC presented the college with a gift of $50,000 to continue the long-term partnership between the sides.

Indigenous Celebration Day featured traditional music, dancing, food and cultural displays. This fall, 356 Indigenous students are taking diploma, degree or certificate programs at Lethbridge College, representing 7.7 per cent of the college’s students. Lethbridge College has a “Circle of Services” to support its Indigenous learners. More information can be found at


-Dr. Paula Burns, Lethbridge College President and CEO
-Marcia Black Water, Lethbridge College Indigenous Services coordinator
-Peter Weasel Moccasin, Lethbridge College Kainai Kaahsinnoonik (Grandparent)
-Pronunciation of Piita’gaaksiimaaki


AltaGas Announces the Filing of the Final Prospectus and Pricing for the Initial Public Offering of AltaGas Canada Inc., Which Includes AltaGas’ Canadian Utilities and Certain Renewable Power Assets in Canada

AltaGas continues to execute on its strategy to reshape the company with a focus on Gas and U.S. Utilities

CALGARY, Oct. 18, 2018

  • Final pricing for AltaGas Canada Inc.’s (“ACI”) initial public offering (“IPO”) at $14.50 per common share (the “Offering Price”) for between 16,500,000 and 18,975,000 common shares for aggregate gross proceeds from the sale of common shares of between $239 million and $275 million (if the over-allotment option is exercised in full).
  • Total cash proceeds for AltaGas from the IPO are expected to be between $874 and $910 million1, which will be funded by ACI through the sale of common shares and $635 million in debt.2
  • Upon successful completion of the IPO, AltaGas will exceed its $2.0 billion target on its asset monetization plan with respect to the repayment of its bridge facility, with approximately $2.4 billion expected to be raised.
  • AltaGas expects to hold common shares of ACI within a range between approximately 37% (if the over-allotment option is exercised in full) to 45% (if the over-allotment option is not exercised) following the IPO.

AltaGas Ltd. (AltaGas) (TSX: ALA) announced today that ACI has filed and obtained a receipt for the final prospectus and pricing with respect to the IPO from the securities regulatory authorities in Canada. At the Offering Price, ACI has agreed to sell between 16,500,000 and 18,975,000 common shares for aggregate gross proceeds of approximately $239 million to $275 million (if the over-allotment option is exercised in full).

“The successful initial public offering of ACI represents another important milestone in reshaping AltaGas, to focus on Gas and U.S. Utilities,” said Mr. David Cornhill, Chairman and interim co-Chief Executive Officer of AltaGas. “At the same time, the IPO also serves to strengthen our balance sheet, with up to $910 million in proceeds being used to pay down a significant portion of our bridge facility.”

AltaGas has been rapidly repaying its bridge facility and expects to meet its commitment to have the bridge facility retired in the fourth quarter of 2018. The final step for the bridge repayment is approximately US $1.1 billion in financing, which is expected to include term debt and hybrid securities offerings.

The IPO is being made through a syndicate of underwriters jointly led by RBC Capital Markets, TD Securities Inc. and J.P. Morgan Securities Canada Inc. (the “Underwriters”). AltaGas, ACI and the Underwriters have entered into an underwriting agreement in respect of the IPO.

The IPO is expected to close on or about October 25, 2018. Completion of the IPO is subject to, and conditional upon the receipt of all necessary approvals, including regulatory approvals. The Toronto Stock Exchange (“TSX”) has conditionally approved the listing of the common shares of ACI under the symbol “ACI”. Listing of the common shares of ACI on the TSX is subject to ACI fulfilling all of the requirements of the TSX on or before January 8, 2019, including the distribution of the common shares of ACI to a minimum number of public shareholders.

The Underwriters have been granted an over-allotment option exercisable at the Underwriters’ sole discretion, to purchase up to an additional 2,475,000 common shares (for a total 18,975,000 common shares if the over-allotment option is exercised in full) of ACI at the Offering Price, exercisable in whole or in part up to 30 days after closing of the IPO.

There can be no assurance that the IPO will be completed. An investment in the common shares of ACI is subject to a number of risks. The final prospectus contains important information relating to the IPO. For more information, potential investors should read the final prospectus which is available on SEDAR at This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or acceptance of an offer to buy the common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the time a receipt for the final prospectus or other authorization is obtained from the securities commission or similar authority in such jurisdiction.

No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release is not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia) or any other jurisdiction outside Canada. This press release does not constitute or form a part of any offer or solicitation to buy or sell any securities in the United States or any other jurisdiction outside of Canada. The securities offered pursuant to the amended and restated preliminary prospectus have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws. Accordingly, these securities may not be offered or sold within the United States or to a U.S. person unless registered under the U.S. Securities Act and applicable state securities laws or except pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. There will be no public offering of securities in the United States.

About AltaGas
AltaGas is an energy infrastructure company with a focus on natural gas, power and regulated utilities. AltaGas creates value by growing and optimizing its energy infrastructure, including a focus on clean energy sources. For more information visit:


TransCanada to Issue Third Quarter Results November 1

CALGARY, Alberta, Oct. 18, 2018 — TransCanada Corporation (TSX, NYSE: TRP) (TransCanada) will hold a teleconference and webcast on Thursday, November 1, 2018 to discuss its third quarter 2018 financial results.

Russ Girling, TransCanada president and chief executive officer, Don Marchand, executive vice-president and chief financial officer, and members of the executive leadership team will discuss TransCanada’s third quarter financial results and company developments at 8 a.m. (MDT) / 10 a.m. (EDT).

Members of the investment community and other interested parties are invited to participate by calling 800.377.0758 or 416.340.2219 (Toronto area). Please dial in 10 minutes prior to the start of the call. No pass code is required. A live webcast of the teleconference will be available on TransCanada’s website at or via the following URL:

A replay of the teleconference will be available two hours after the conclusion of the call until midnight (EDT) on November 8, 2018. Please call 800.408.3053 or 905.694.9451 (Toronto area) and enter pass code 1642917#.

With more than 65 years’ experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TransCanada operates one of the largest natural gas transmission networks that extends more than 91,900 kilometres (57,100 miles), tapping into virtually all major gas supply basins in North America. TransCanada is a leading provider of gas storage and related services with 653 billion cubic feet of storage capacity. A large independent power producer, TransCanada currently owns or has interests in approximately 6,100 megawatts of power generation in Canada and the United States. TransCanada is also the developer and operator of one of North America’s leading liquids pipeline systems that extends approximately 4,900 kilometres (3,000 miles), connecting growing continental oil supplies to key markets and refineries. TransCanada’s common shares trade on the Toronto and New York stock exchanges under the symbol TRP. Visit to learn more, or connect with us on social media.

Media Inquiries:
Grady Semmens
403.920.7859 or 800.608.7859

TransCanada Investor & Analyst Inquiries:
David Moneta / Duane Alexander
403.920.7911 or 800.361.6522


Indigenous present, future celebrated – Lethbridge Herald

Lethbridge College unveiled a colourful new display in its Centre Core on Thursday to mark Indigenous Celebration Day on campus.

The display features an original artwork, by Indigenous artist William Singer III, of a bison, representing education as the new bison (self-sustaining focus) of local First Nations people. Front and centre in the display is a half-formed Stone Pipe, a pipe used in sacred Blackfoot ceremonies to make offerings to the Creator or Source of Life.

The half-formed pipe represents the work yet to be done going forward at the college in terms of Truth and Reconciliation.

Stone Pipe, or “Ohkoti’aahkkoiyiinniimaan,” was also the Blackfoot name given to Lethbridge College at last year’s Indigenous Celebration Day.

Read More:

Kinder Morgan Canada Limited Declares Dividend and Announces Results for Third Quarter of 2018

Closes on Trans Mountain Sale and Proposes Distribution of Proceeds as a Return of Capital

CALGARY, Oct. 17, 2018 – The Kinder Morgan Canada Limited (TSX: KML) board of directors has declared a dividend for the third quarter of 2018 of $0.1625 per restricted voting share ($0.65 annualized), payable on November 15, 2018, to restricted voting shareholders of record as of October 31, 2018. KML’s restricted voting share dividends are eligible dividends for Canadian income tax purposes.

“KML’s strategic infrastructure operations across western Canada had a strong third quarter, underpinned by multi-year take-or-pay contracts with high quality customers and stable cash flows,” said KML Board Chairman and CEO Steve Kean. KML reported third quarter net income (from continuing and discontinued operations) of $1,349.4 million, up from $42.4 million in the third quarter of 2017, primarily due to the $1,308.0 million gain, net of tax, on the sale of the Trans Mountain pipeline system. Distributable cash flow (DCF) was $80.6 million, up by 4 percent compared to the comparable prior year period. DCF for the quarter benefited from greater contributions from both the Pipelines and Terminals segments for the two months before the sale of Trans Mountain versus the same period in 2017, as well as interest income on the deposited proceeds from the sale of Trans Mountain, partially offset by the payment of preferred share dividends and the loss of September 2018 earnings from Trans Mountain.

In the third quarter, KML generated earnings per restricted voting share from continuing and discontinued operations, including gain on the sale of Trans Mountain, of $0.05 and $3.78, respectively. KML produced DCF of $0.230 per restricted voting share relative to our declared $0.1625 per restricted voting share dividend, resulting in $7.1 million of excess DCF coverage above the company’s dividend.

Overview of Business Segments
“Earnings in our Terminals segment were roughly flat compared to the third quarter of 2017, while Pipeline segment earnings were down as a result of the Trans Mountain sale. Contributions from our Edmonton-area terminals were slightly higher than the third quarter of 2017, driven by our new Base Line Terminal joint venture, where all tanks are now in service, as well as higher rates on re-contracted tank leases at our North 40 and Edmonton South terminals,” noted John Schlosser, KML President. “These increased contributions were partially offset by tank lease costs at our Edmonton South Terminal following the sale of Trans Mountain and the expiration of a third party rail terminaling contract at our Edmonton Rail Terminal joint venture. Contributions from our Vancouver Wharves facility were lower compared to the third quarter of 2017 with earnings negatively impacted by lower fertilizer and agricultural product volumes as well as higher labor costs.”

Sale of Trans Mountain and Proposed Return of Capital
On August 31, 2018, the Trans Mountain pipeline system and expansion project were indirectly acquired by the Government of Canada through Trans Mountain Corporation (a subsidiary of the Canada Development Investment Corporation) for cash consideration of approximately $4.43 billion, which is the contractual purchase price of $4.5 billionnet of a preliminary working capital adjustment. The sale price is subject to a customary final true up of the estimated working capital calculation as provided in the purchase agreement.

Shortly after closing and as previously announced, the KML board unanimously voted to distribute the net proceeds from the sale, after capital gains taxes, customary purchase price adjustments and repayment of KML debt, as a return of capital to shareholders. The return of capital to holders of KML’s restricted voting shares is expected to be approximately $1.2 billion or approximately $11.40 per restricted voting share. To facilitate the return of capital and provide flexibility for dividends going forward, KML will seek voting shareholder approval to reduce the stated capital of KML’s restricted voting shares by $1.45 billion. The KML board also approved a proposal to effect a consolidation or “reverse stock split” of our Restricted Voting Shares and Special Voting Shares on a one-for-three basis (three shares consolidating to one share).

The proposals will be voted on at a special meeting of KML shareholders currently scheduled to be held on November 29, 2018. Subject to the shareholders’ approval of these proposals and the KML board’s subsequent confirmation of the return of capital, the anticipated payment date for the proposed return of capital is expected to be January 3, 2019, with the reverse stock split to occur a few days thereafter. KML will issue a press release confirming the amount of the return of capital and the associated record and payment dates shortly after the shareholders meeting.

2018 Outlook
For the fourth quarter, representing the first full quarter without Trans Mountain earnings but with nearly a full quarter of Base Line Terminal earnings, KML anticipates that the remaining assets in the Pipelines and Terminals segments will generate Adjusted EBITDA of $50 million to $55 million. KML expects the one-for-three stock split to be effective prior to the declaration of the dividend for the fourth quarter of 2018 and expects to pay a dividend of $0.1625 per split-adjusted restricted voting share. KML does not anticipate the proposed return of capital or reverse split to have any impact on the outstanding preferred shares of KML or dividends payable thereon.

Other News
KML’s board of directors declared a dividend of $0.328125 per Series 1 Preferred Share ($1.3125 annualized) and $0.3250 per Series 3 Preferred Share ($1.30 annualized), each payable on November 15, 2018 to Series 1 and Series 3 preferred shareholders of record as of the close of business on October 31, 2018. KML’s preferred share dividends are eligible dividends for Canadian income tax purposes.

Upon the closing of the Trans Mountain transaction, KML’s temporary credit facilities were terminated and replaced with a 4-year $500 million unsecured credit facility to be used for working capital purposes.

Construction of all major facilities at the Base Line Terminal in Edmonton, Alberta, Canada, is materially complete, with the final tanks placed in service in the third and early fourth quarters of this year, slightly ahead of schedule. The 12-tank, 4.8 million barrel facility is fully contracted with long-term, firm take-or-pay agreements with creditworthy customers. The 50-50 joint venture crude oil merchant storage terminal developed by KML and Keyera Corp. is expected to be completed under budget, with Kinder Morgan investing approximately $373 million.

Permitting efforts continue on the distillate storage expansion project at KML’s Vancouver Wharves terminal in North Vancouver, British Columbia. The $43 million capital project includes the construction of two new distillate tanks with combined storage capacity of 200,000 barrels and enhancements to the railcar unloading capabilities. The project is supported by a 20-year initial term, take-or-pay contract with an affiliate of a large, international integrated energy company and is expected to be placed in service in the first quarter of 2021.

About Kinder Morgan Canada Limited (TSX: KML). KML manages and is the holder of an approximately 30 percent minority interest in a portfolio of strategic energy infrastructure assets across Western Canada. Kinder Morgan, Inc. (NYSE: KMI) holds an approximately 70 percent majority voting interest in KML and a corresponding 70 percent economic interest in KML’s business and assets. KML focuses on stable, fee-based energy transportation and storage assets that are central to the energy infrastructure of Western Canada. We strive to promote shareholder value by increasing utilization of our existing assets while controlling costs and operating in a safe and environmentally responsible way. For more information visit

Please join KMI and KML at 4:30 p.m Eastern Time on Wednesday, October 17, 2018, at www.kindermorgan.comfor a LIVE webcast conference call that will include a discussion of KML’s third quarter earnings.

Read More:


Canadian Pacific CEO downplays impact of U.S. China trade battle – CP

Source: The Canadian Press
Oct 18, 2018

CALGARY _ Canadian Pacific Railway Ltd. is downplaying the potential negative impact on its operations from a trade war between the United States and China.

China accounts for 12 per cent of North American revenues, with direct business between the world’s two largest economies coming in at less than five per cent, analysts were told during a conference call Thursday about its third-quarter results.

“We’re just a business that’s getting tossed around a bit with this China connection being overemphasized in the marketplace,” said chief executive Keith Creel.

Chief marketing officer John Brooks said trade tensions and the imposition of hefty import tariffs by both sides have prompted international customers to start to pull forward some of their business.

The impact is mainly felt from some Vancouver imports and U.S. grain exports from the Midwest.

“But outside of that, we’re pretty resilient in that space. And again, it’s a total percentage, it’s not giant numbers,” Brooks said.

Creel said the Calgary-based company aims to ramp up crude shipments over the next few months to a run rate of about 100,000 carloads a year as it looks to generate higher profits after posting record revenues and adjusted earnings in the third quarter.

CP Rail earned $622 million or $4.35 per diluted share for the quarter ended Sept. 30, compared with $510 million or 3.50 per share for the same period a year earlier.

Adjusted earnings rose to $589 million or a record $4.12 per diluted share, two cents better than it forecast earlier this month. The earnings marked a 42 per cent leap from $2.90 per share or $422 million a year earlier, beating the expectations of analysts polled by Thomson Reuters Eikon.

The quarter showed the success of the railway’s operating model, stated CEO Keith Creel.

“It was a record by almost every measure and sets us up well for the remainder of the year and beyond.”

Third-quarter revenues grew 19 per cent to $1.9 billion from $1.6 billion.

It was led by a 58 per cent growth in currency-adjusted revenues for energy, chemicals and plastics.

Creel stressed “crude was a large contributor to this growth,” with more than 23,000 carloads moved in the quarter, but added that the category shot up 23 per cent even before factoring in crude.

Adjusted revenues also grew 24 per cent higher in potash, 20 per cent in automotive, 18 per cent in intermodal, 12 per cent in forest products, seven per cent grain, five per cent metals, minerals, consumer, four per cent coal and two per cent fertilizers and sulphur.

Brooks acknowledged that wet weather and an early winter in the Prairies could potentially hurt shipments.

But crops such as canola are “pretty resilient, as long as they’e not beaten down to the ground.”

The company reported a record-low quarterly operating ratio, which measures its efficiency, of 58.3 per cent, compared with 61 per cent a year earlier.

Creel said the railway foresees continued and sustainable growth across all lines of business.

“We have the foundational underpinnings, and the room to grow, in the weeks, months and years ahead,” he said in a news release.

CP Rail said it expects adjusted diluted earnings per share to grow more than 20 per cent this year, up from an earlier guidance of low double-digit growth.

Edward Jones analyst Dan Sherman recommended investors buy stock in the 137-year-old company, but cautioned that “trade disagreements with U.S. export partners may also affect the volume of shipments.”

Companies in this story: (TSX:CP)


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