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Alberta

Province twinning David Thompson Highway (#11) from Sylvan Lake to Rocky Mountain House

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Premier Kenney announces highway 11 expansion

From the Province of Alberta

Improving David Thompson Highway and creating jobs

The Government of Alberta will twin a 66-kilometre stretch of the David Thompson Highway between Sylvan Lake and Rocky Mountain House.

This $120-million project is part of Alberta’s Recovery Plan and will create about 582 jobs, while upgrading the highway and improving traffic flow along this important recreation corridor.

“Alberta’s government is taking every possible step to get folks back to work. Infrastructure upgrades like this will create jobs today, while ensuring our roads and highways can support the needs of Albertans for years to come. Ultimately, this will create more opportunities for Albertans and visitors alike to access the natural beauty and hospitality of our province.”

Jason Kenney, Premier

“The David Thompson Highway leads to some of the most breathtaking scenery in Canada and has become a popular route for the tourism industry. Twinning this highway will increase and improve access for Albertans and tourists alike to enjoy Alberta’s outdoors. The project is part of our government’s recovery plan to create jobs, diversify our economy and get Albertans back to work.”

Ric McIver, Minister of Transportation

The David Thompson Highway project is part of the more than $10 billion infrastructure spending announced as part of Alberta’s Recovery Plan. This spending includes: $6.9 billion Budget 2020 capital spending, $980 million accelerated for Capital Maintenance and Renewal, $200 million for Strategic Transportation Infrastructure Program and water infrastructure projects, $600 million in strategic infrastructure projects, $500 million in municipal infrastructure and $1.5 billion for Keystone XL.

“The twinning of the David Thompson Highway is an important infrastructure project for our community and will support further investment in the province. It will address the congestion at the 781 intersection that continues to plague the area and, frankly, is long overdue. Most importantly, this project will create jobs right here in central Alberta at a time when Albertans need it most.”

Devin Dreeshen, Minister of Agriculture and Forestry, and MLA for Innisfail-Sylvan Lake

“This project represents major progress on transportation infrastructure that will positively impact many communities in Rimbey-Rocky Mountain House-Sundre. The David Thompson Highway – named after one of Western Canada’s true pioneers – sees considerable use by industry, tourists and Albertans recreating in the surrounding areas. Twinning the highway will ensure this gateway to the Rockies is upgraded for use for generations to come – boosting tourism, shoring up industry supply chains and allowing Albertans to explore what I consider the most beautiful area in the province.”

Jason Nixon, Minister of Environment and Parks, and MLA for Rimbey- Rocky Mountain House- Sundre

Alberta’s government is helping create more than 50,000 good jobs for Albertans by building schools, roads and other core infrastructure that benefits Albertans and communities. It will further diversify our economy by helping sectors grow and succeed and return investment to our province by ensuring we have the most competitive tax environment in Canada

Quick facts

  • Sylvan Lake and the David Thompson Country region are popular summer vacation destinations.
  • Design work will start in 2020 with construction activities getting underway in the 2021 construction season following land acquisition. A project of this scope typically takes about four years to build.
  • The project will be completed in phases over the following several construction seasons.
  • About 5,800 vehicles use this section of Highway 11 each day.
  • This project is anticipated to support 344 direct and 248 indirect jobs.

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Alberta

Winnipeg prize of $495,900 for EE Football Club’s Joey Moss 50/50 draw claimed

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EDMONTON — The winning ticket for a record-breaking 50/50 raffle held by the CFL’s EE Football Team has been claimed.

The team said in a release Monday that John Groff of Edmonton is taking home the winner’s prize of $495,900 for the draw, which was held in honour of former EE Football Team and Edmonton Oilers locker-room attendant Joey Moss.

The draw, which closed at $991,800 on Sunday, broke a record set by the team during a July 2017 game against the Ottawa Redblacks where $871,839 was raised.

The remainder of the pot, minus administration fees, will go toward the Joey Moss Memorial Fund created by the Winnifred Stewart Association, a group that empowers people with disabilities.

Moss, who was born with Down syndrome, passed away at the age of 57 this past October. No cause of death was given.

He first became an attendant with the Oilers in 1984 before joining the Edmonton Football Team two years later, holding both positions for over 30 years.

Moss was a favourite in Edmonton among fans and players. He was later given a Queen Elizabeth II Diamond Jubilee medal for his contributions and achievements in 2012 and was later inducted into the Alberta Sports Hall of Fame in 2015.

This report by The Canadian Press was first published Nov. 23, 2020

The Canadian Press

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Alberta

Obsidian Energy shareholders approve stock issuance in pursuit of Bonterra takeover

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CALGARY — Obsidian Energy Ltd. says shareholders have voted to approve its proposal to issue up to 72.3 million shares to buy Bonterra Energy Corp. in a hostile takeover.

The Calgary-based oil and gas producer says 91.4 per cent of the shares represented at a special meeting on Monday were voted in favour of the deal announced in August, but strongly resisted since by the takeover target.

Last week, shareholder advisory firm Glass Lewis recommended investors support management in pursuing Bonterra because it would create a company with a stronger balance sheet and the ability to grow through acquisitions.

But it added in a report the deal has “almost no practical likelihood of being successful” because of opposition by the Bonterra board and from more than 30 per cent of Bonterra shareholders.

The takeover, first proposed in August, is open until Jan. 4 and offers two Obsidian shares for each Bonterra share. It requires approval by holders of more than two-thirds of Bonterra’s stock to be successful.

On Monday, Bonterra shares closed at $1.68, more than three times the closing stock price of 50 cents for Obsidian.

Bonterra has dubbed the Obsidian offer a “take-under bid” based on relative stock prices.

This report by The Canadian Press was first published Nov. 23, 2020.

Companies in this story: (TSX:BNE, TSX:OBE)

The Canadian Press

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november, 2020

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