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Alberta

Aurora Cannabis to raise $33.8M in share offering, plans to repay convertible debt

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EDMONTON — Shares of Aurora Cannabis Inc. were down more than 10 per cent after the cannabis company announced plans to raise $33.8 million in a share offering.

The company says Canaccord Genuity has agreed to buy, on a bought deal basis, 46,250,000 shares of the company at a price of 73 cents per share.

It has also granted Canaccord Genuity an over-allotment option for up to an additional 6,937,500 shares on the same terms. If the over-allotment option is exercised in full, the offering will total $38.8 million.

Aurora says it plans to use the money raised to repay the remainder of its outstanding convertible senior notes at or prior to maturity.

The company says the remainder, if any, will be used for strategic purposes, including potential acquisitions.

Aurora’s stock price was down 13 per cent at 79 cents per share in early trading on the Toronto Stock Exchange.

This report by The Canadian Press was first published Sept. 28, 2023.

Companies in this story: (TSX:ACB)

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Alberta

Median workers in Alberta could receive 72% more under Alberta Pension Plan compared to Canada Pension Plan

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From the Fraser Institute

By Tegan Hill and Joel Emes

Moving from the CPP to a provincial pension plan would generate savings for Albertans in the form of lower contribution rates (which could be used to increase private retirement savings while receiving the same pension benefits as the CPP under the new provincial pension), finds a new study published today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.

“Due to Alberta’s comparatively high rates of employment, higher average incomes, and younger population, Albertans would pay a lower contribution rate through a separate provincial pension plan while receiving the same benefits as under the CPP,” said Tegan Hill, director of Alberta policy at the Fraser Institute and co-author of Illustrating the Potential of an Alberta Pension Plan.

Assuming Albertans invested the savings from moving to a provincial pension plan into a private retirement account, and assuming a contribution rate of 5.85 per cent, workers earning the median income in Alberta ($53,061 in 2025) could accrue a stream of retirement payments totalling $454,741 (pre-tax)—a 71.6 per cent increase from their stream of CPP payments ($264,968).

Put differently, under the CPP, a median worker receives a total of $264,968 in retirement income over their life. If an Alberta worker saved the difference between what they pay now into the CPP and what they would pay into a new provincial plan, the income they would receive in retirement increases. If the contribution rate for the new provincial plan was 5.85 per cent—the lower of the available estimates—the increase in retirement income would total $189,773 (or an increase of 71.6 per cent).

If the contribution rate for a new Alberta pension plan was 8.21 per cent—the higher of the available estimates—a median Alberta worker would still receive an additional $64,672 in retirement income over their life, a marked increase of 24.4 per cent compared to the CPP alone.

Put differently, assuming a contribution rate of 8.21 per cent, Albertan workers earning the median income could accrue a stream of retirement payments totaling $329,640 (pre-tax) under a provincial pension plan—a 24.4 per cent increase from their stream of CPP payments.

“While the full costs and benefits of a provincial pension plan must be considered, its clear that Albertans could benefit from higher retirement payments under a provincial pension plan, compared to the CPP,” Hill said.

Illustrating the Potential of an Alberta Pension Plan

  • Due to Alberta’s comparatively high rates of employment, higher average incomes, and younger population, Albertans would pay a lower contribution rate with a separate provincial pension plan, compared with the CPP, while receiving the same benefits as under the CPP.
  • Put differently, moving from the CPP to a provincial pension plan would generate savings for Albertans, which could be used to increase private retirement income. This essay assesses the potential savings for Albertans of moving to a provincial pension plan. It also estimates an Albertan’s potential increase in total retirement income, if those savings were invested in a private account.
  • Depending on the contribution rate used for an Alberta pension plan (APP), ranging from 5.85 to 8.2 percent, an individual earning the CPP’s yearly maximum pensionable earnings ($71,300 in 2025), would accrue a stream of retirement payments under the total APP (APP plus private retirement savings), yielding a total retirement income of between $429,524 and $584,235. This would be 22.9 to 67.1 percent higher, respectively, than their stream of CPP payments ($349,545).
  • An individual earning the median income in Alberta ($53,061 in 2025), would accrue a stream of retirement payments under the total APP (APP plus private retirement savings), yielding a total retirement income of between $329,640 and $454,741, which is between 24.4 percent to 71.6 percent higher, respectively, than their stream of CPP payments ($264,968).

 

Tegan Hill

Director, Alberta Policy, Fraser Institute
Joel Emes

Joel Emes

Senior Economist, Fraser Institute
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Alberta

Alberta ban on men in women’s sports doesn’t apply to athletes from other provinces

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From LifeSiteNews

By Clare Marie Merkowsky

Alberta’s Fairness and Safety in Sport Act bans transgender males from women’s sports within the province but cannot regulate out-of-province transgender athletes.

Alberta’s ban on gender-confused males competing in women’s sports will not apply to out-of-province athletes.

In an interview posted July 12 by the Canadian Press, Alberta Tourism and Sport Minister Andrew Boitchenko revealed that Alberta does not have the jurisdiction to regulate out-of-province, gender-confused males from competing against female athletes.

“We don’t have authority to regulate athletes from different jurisdictions,” he said in an interview.

Ministry spokeswoman Vanessa Gomez further explained that while Alberta passed legislation to protect women within their province, outside sporting organizations are bound by federal or international guidelines.

As a result, Albertan female athletes will be spared from competing against men during provincial competition but must face male competitors during inter-provincial events.

In December, Alberta passed the Fairness and Safety in Sport Act to prevent biological men who claim to be women from competing in women’s sports. The legislation will take effect on September 1 and will apply to all school boards, universities, as well as provincial sports organizations.

The move comes after studies have repeatedly revealed what almost everyone already knew was true, namely, that males have a considerable advantage over women in athletics.

Indeed, a recent study published in Sports Medicine found that a year of “transgender” hormone drugs results in “very modest changes” in the inherent strength advantages of men.

Additionally, male athletes competing in women’s sports are known to be violent, especially toward female athletes who oppose their dominance in women’s sports.

In February, Andres ranted about why men should be able to compete in women’s competitions, calling for “the Ontario lifter” who opposes this, apparently referring to powerlifter April Hutchinson, to “die painfully.”

Interestingly, while Andres was suspended for six months for issuing death threats, Hutchinson was suspended for two years after publicly condemning him for stealing victories from women and then mocking his female competitors on social media. Her suspension was later reduced to a year.

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