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Alberta

From maybe to no: Alberta cabinet ministers give range of answers on replacing Kenney

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By Dean Bennett in Edmonton, Alberta, Canada

The race to replace Jason Kenney as United Conservative Party leader and Alberta premier has two entrants so far along with a number of cabinet ministers who, when asked if they plan to run, delivered answers ranging from maybe to a hard no.

Government house leader and Environment Minister Jason Nixon says he has not ruled out running for the top job but has more thinking to do and, for now, is focused on the spring sitting of the legislature.

“At the end of the day, internal politics are internal politics, but the people of Alberta expect us to come up here and get to work,” Nixon told reporters on his way into the house Tuesday.

“I haven’t ruled anything out (on a leadership bid),” he added. “I’ll be doing what I think is best for the party under the lens of making sure that we stay united and that we defeat the NDP in a year.”

Transportation Minister Rajan Sawhney said she will consult with her family, constituents and Albertans before deciding.

“I haven’t made up my mind as of yet,” she said.

Finance Minister Travis Toews refused multiple times to say whether he would be running or not running, or whether he’s even considering it at all.

“This week we are focused on the people’s business,” said Toews.

Justice Minister Tyler Shandro said he will not run for the leadership but plans to run again for a seat in Calgary-Acadia in the 2023 provincial election.

“It’s never crossed my mind to run for the leader of any political party,” said Shandro. “I wasn’t sure I wanted to be a politician or MLA in the first place.”

Advanced Education Minister Demetrios Nicolaides said he won’t be in the running.

“I don’t have any plans for anything like that,” he said, adding he does plan to run in the election.

Health Minister Jason Copping also tossed cold water on a bid.

“I’m not considering running for the leadership at this time. I’m focused on delivering health care for Albertans,” he said.

Children’s Services Minster Rebecca Schulz said: “It’s too early to say.”

Labour Minister Kaycee Madu had two words: “No comment.”

On Monday, Jobs, Economy and Innovation Minister Doug Schweitzer announced he won’t run for the leadership and won’t run again for his seat in Calgary-Elbow.

Two candidates — Brian Jean and Danielle Smith — have said they will seek the leadership.

Jean and Schweitzer ran and lost to Kenney in the inaugural UCP leadership race in 2017. Jean has since returned to politics, winning a seat for the UCP earlier this year in a byelection on a platform to unseat Kenney as leader.

Smith is the former leader of the Wildrose Party, which merged under Jean with Kenney’s Progressive Conservatives in 2017 to form the UCP.

The UCP is still working on details of the leadership race and no rules or timeline have been presented yet.

Tuesday was the first day the house sat since Kenney said last week he will quit the top job once a new leader is chosen.

He made the announcement after receiving 51 per cent support in a leadership review vote by party rank and file. He said the result reflects a deep division in the party that won’t be fixed if he stays premier.

The Opposition NDP continued to hammer away at what it calls the “interim UCP” government. It said while the government focuses on its internal drama, Albertans are facing real challenges, including inflation, high gas and utility costs and long waiting lists for surgery.

“(There’s) all kinds of uncertainty in Alberta politics right now, but one constant (is) this premier’s self-importance,” NDP finance critic Shannon Phillips told Kenney as he sat across the aisle from her, signing documents and answering questions in the house.

“Anyway,” Phillips added, “enough about yesterday’s man.”

This report by The Canadian Press was first published May 24, 2022.

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Alberta

Calgary Stampede receives $10M from federal government to aid recovery from pandemic

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Calgary – The Calgary Stampede has received more than $10 million from the federal government to help it bounce back after last year’s event was scaled down due to the COVID-19 pandemic.

A report to the city this week showed the Stampede had an operating loss of $8.3 million in 2021.

Last year’s Stampede ran at half capacity because of COVID-19 public health measures and was cancelled all-together the year before.

Daniel Vandal, the federal minister for Prairies Economic Development Canada, says the money aims to support a full-scale Stampede to deliver the “authentic western experience” this year.

He says it would also help to reignite Alberta’s visitor economy.

The 2022 Stampede is set to run from July 8 to 17.

“Festivals large and small were hard hit during the pandemic,” Vandal said in a news release. “They are events where families and friends come together and take in the exciting atmosphere.

“The tourism industry is facing a strong comeback providing quality jobs across the country, showcasing stunning landscapes and offering exciting experiences right here in Alberta.”

The federal government also provided about $1.8 million for four other tourism projects in southern Alberta: Charmed Resorts, Cochrane Tourism Association, Heritage Park and Tourism Calgary.

This report by The Canadian Press was first published June 30, 2022.

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Alberta

Canopy Growth to exchange C$255.4M in notes for shares and a bit of cash

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SMITHS FALLS, Ont. — Canopy Growth Corp. has signed a deal to exchange C$255.4 million of its debt for shares and a little bit of cash.

Under the agreement with a limited number of noteholders, the cannabis company will acquire the 4.25 per cent unsecured convertible senior notes due in 2023 for about C$252.8 million in shares plus approximately C$3 million in cash for accrued and unpaid interest.

The price used to value the shares will be the volume-weighted average trading price on the Nasdaq Global Select Market for the 10 consecutive trading days beginning Thursday, subject to a floor price of US$2.50 and a maximum of US$3.50 per share.

Constellation Brands Inc., through its wholly-owned subsidiary Greenstar Canada Investment Limited Partnership, has agreed to swap half of the C$200 million in notes it holds under the deal.

The company, which is already Canopy’s largest shareholder, will receive a minimum of 21.9 million Canopy shares based on the floor price and a maximum of 30.7 million shares.

Constellation currently holds nearly 142.3 million Canopy shares, representing a 35.3 per cent stake in the company.,

This report by The Canadian Press was first published June 30, 2022.

Companies in this story: (TSX:WEED)

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