Month: May 2020

CALGARY, Alberta, May 05, 2020 (GLOBE NEWSWIRE) — Black Diamond Group Limited (“Black Diamond”, the “Company” or “we”), (TSX:BDI), a leading provider of space rental and workforce accommodation solutions, today announced its operating and financial results for the three months ended March 31, 2020 (the “Quarter”) compared with the three months ended March 31, 2019 (the “Comparative Quarter”). All financial figures are expressed in Canadian dollars.In the first quarter of 2020, Black Diamond reported consolidated revenue of $45.1 million, Adjusted EBITDA of $9.9 million, and core rental revenue of $17.1 million.Consolidated rental revenue of $17.1 million increased 17% from the Comparative Quarter.Adjusted EBITDA increased 22% from the Comparative Quarter to $9.9 million...

Reported first quarter net loss of $(314.4) million and Adjusted EBITDA of $(29.7) millionReducing 2020 capital expenditures by approximately $75 million representing a 23% decreaseImproving cost structure with 10% reduction (~$100 million) in operating & overhead expenses 2020 vs. 2019Currently benefiting from steep crude contango, niche product markets and regional demand recoveryExpect refining throughput in 2Q20 to be approximately 80% utilizationCompleted drop-down of Big Spring Gathering System to DKL increasing DK ownership of DKL to 71%Maintain strong liquidity with $785 million of cash as of March 31, 2020BRENTWOOD, Tenn., May 05, 2020 (GLOBE NEWSWIRE) — Delek US Holdings, Inc. (NYSE: DK) (“Delek US”) today announced financial results for its first quarter ended March 31, 2020. Delek US reported first quarter 2020...

CALGARY, Alberta, May 05, 2020 (GLOBE NEWSWIRE) — The convergence of two global events has created a turbulent market situation. The COVID-19 pandemic and the associated rapid demand reduction and the crude oil supply shock as a result of the OPEC+ production decisions are expected to keep crude oil prices lower for at least the next 12-24 months. The fundamentals necessary for a recovery include: product demand returning as a result of global economies restarting and oil production and inventories coming back into balance.  Given the unprecedented size of global crude inventories, we know that bringing the market back into balance will take some time, although the exact pace is uncertain. In order to maintain the financial health and resiliency of the company to navigate the current market conditions, the company has reduced operating...

CALGARY, Alberta, 05 mai 2020 (GLOBE NEWSWIRE) — La convergence de deux événements mondiaux a créé une instabilité des marchés. La pandémie de COVID-19 et la réduction rapide de la demande connexe ainsi que la perturbation de l’offre en pétrole brut attribuable aux décisions liées à la production de l’OPEP+ devraient maintenir les prix à un niveau plus bas pendant au moins 12 à 24 mois. Les éléments fondamentaux nécessaires à une relance sont notamment : une reprise de la demande en produits attribuable au redémarrage de l’économie mondiale et le rétablissement de l’équilibre dans la production et le stockage du pétrole. Compte tenu des volumes sans précédent des stocks mondiaux de pétrole brut, nous savons que le rétablissement d’un équilibre dans les marchés prendra un certain temps, même si le rythme...

TORONTO, May 05, 2020 (GLOBE NEWSWIRE) — Timbercreek Financial (TSX: TF) (the “Company”) announced today its financial results for the three months ended March 31, 2020 (“Q1 2020”).Please note the Quarterly Conference Call will take place tomorrow, Wednesday, May 6, 2020 at 11:00 a.m. (EDT).Q1 2020 HighlightsStrong transaction activity, with approximately $126.7 million in new mortgage investments and advances on existing mortgage investmentsMaintained conservative portfolio risk position focused on income-producing commercial real estate° 93.1% of net mortgage investment portfolio are first mortgages° 85.2% of net mortgage investment portfolio is invested in cash-flowing properties° 69.6% weighted average loan-to-value° 7.2% quarterly weighted average interest rate on net mortgage investmentDelivered adjusted net income and comprehensive...

Samkeppniseftirlitið boðaði í ákvörðun sinni varðandi kaup félagsins á Fiskvinnslunni Kambi hf. og Grábrók ehf. sem var tilkynnt Brim hf. í kvöld að það myndi hefja sjálfstæða rannsókn á því hvort stofnast hafi til yfirráða Útgerðarfélags Reykjavíkur hf. og tengdra aðila í Brimi hf. vegna tiltekinna viðskipta Útgerðarfélags Reykjavíkur hf. og tengdra aðila á árinu 2019 með eignarhluti í Brimi hf., sem að mati Samkeppniseftirlitsins voru til þess fallin að hafa áhrif á mat á yfirráðum í félaginu í skilningi samkeppnislaga. Í þessu máli yrði tekin afstaða til þess hvort að við mögulega myndun yfirráða í Brimi hafi verið framkvæmdur samruni af hálfu aðila í andstöðu við 3. mgr. 17. gr. a samkeppnislaga.

Samkeppniseftirlitið tilkynnti Brim hf. í kvöld að það „teldi ekki ástæðu til að aðhafast frekar“ vegna kaupa félagsins á Fiskvinnslunni Kambi hf. og Grábrók ehf. Þar með eru allir fyrirvarar vegna kaupanna fallnir niður og verða þessi viðskipti kláruð samkvæmt samningum þar um.

Dallas, Texas, May 05, 2020 (GLOBE NEWSWIRE) —  Sustainable Opportunities Acquisition Corp. (the “Company”) today announced the pricing of its initial public offering of 30,000,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange and trade under the ticker symbol “SOAC.U” beginning May 6, 2020. Each unit consists of one Class A ordinary share of the Company and one-half of one warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the New York Stock Exchange under the symbols “SOAC” and “SOAC WS,” respectively.Sustainable Opportunities Acquisition Corp., led by Scott Leonard...

PASCAGOULA, Miss., May 05, 2020 (GLOBE NEWSWIRE) — Shipbuilders watched and cheered today as the Hurricane Hunters from Keesler Air Force Base’s 403rd Wing flew over Huntington Ingalls Industries’ Ingalls Shipbuilding division and Tripoli (LHA 7), to thank the essential workforce continuing to build our nation’s fleet during the COVID-19 pandemic.The “Hercs for Heroes” flyby featured a WC-130J Super Hercules from the wing’s 53rd Weather Reconnaissance Squadron, known as the Air Force Reserve Hurricane Hunters.“We salute our shipbuilders as they continue their work in support of our critical mission,” Ingalls President Brian Cuccias said. “Our workforce has shown great strength and determination despite our recent challenges, and they are more prepared and resilient than ever before.”A video and photo accompanying this release are...

Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards, specifically International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working interest basis, before royalties, except for Libya, which is on an economic basis. Certain financial measures referred to in this news release (funds from operations, operating (loss) earnings and free funds flow) are not prescribed by Canadian generally accepted accounting principles (GAAP). See the Non-GAAP Financial Measures section of this news release. References to Oil Sands operations exclude Suncor Energy Inc.’s interests in Fort Hills and Syncrude.CALGARY, Alberta,...