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Alberta

Loaded handgun seized in Red Deer traffic stop

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News release submitted by the Alberta Law Enforcement Response Team (ALERT)

A variety of drugs and a loaded handgun were seized from a suspected Red Deer drug dealer by ALERT. The handgun, which had its serial number defaced, was located following a traffic stop.

ALERT Red Deer’s organized crime and gang team made the seizure on May 4, 2022 after conducting a planned vehicle stop near Gasoline Alley in Red Deer County. A 41-year-old suspect was arrested, but has yet to be formally charged.

“Taking a handgun out of the hands of a drug dealer is a measure of success towards reinforcing community safety. ALERT continues to work with our partners at Red Deer RCMP, and neighbouring detachments, to disrupt and dismantle drug trafficking activity,” said Staff Sgt. Jason Gibson, ALERT Regional teams.

Along with the handgun ALERT located a variety of drugs inside the vehicle, including:

  • 40 grams of fentanyl;
  • 28 grams of methamphetamine;
  • 6 grams of cocaine;
  • 30 milliliters of GHB;
  • 16 assorted illicit prescription pills; and
  • $360 cash.

The handgun will be submitted for ballistic testing and firearms analysis.

The investigation remains ongoing as investigators are preparing reports and disclosure for Crown Counsel.

Members of the public who suspect drug or gang activity in their community can call local police, or contact Crime Stoppers at 1-800-222-TIPS (8477). Crime Stoppers is always anonymous.

ALERT was established and is funded by the Alberta Government and is a compilation of the province’s most sophisticated law enforcement resources committed to tackling serious and organized crime.

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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)

The Canadian Press

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