Canadian businessman, ClubLink co-founder John Simmonds charged in $30 million fraud

A prominent Canadian businessman and co-founder of Canada’s largest golf club operator has been charged with eight business associates in connection with an alleged criminal organization that defrauded businesses, banks and investors of more than $30 million.In November 2014, York Regional Police launched an investigation into John Simmonds, 66, of King City, Ont., and A.C. Simmonds and Sons Inc., of which he is the chairman and CEO. Story continues below

Police and the Ontario Securities Commission said they received several complaints from people who claimed to have been defrauded by Simmonds and his co-accused.In early 2014, investigators determined the company BLVD Holdings was one of 80 shell companies registered by A.C. Simmonds and Sons Inc. and had begun the process of acquiring a food shipping company in York Region.READ MORE: Former MaRS director Allen Gelberg charged with fraud of nearly $1MA press release from March 2014 showed BLVD Holdings acquired …

PRESS DIGEST- Canada – Dec 20

Dec 20 The following are the top stories from
selected Canadian newspapers. Reuters has not verified these
stories and does not vouch for their accuracy.THE GLOBE AND MAIL
** Calgary police are investigating a targeted attack after
a prominent real estate developer was injured in a shooting that
erupted in a wealthy neighbourhood on Monday. Riaz Mamdani,
chief executive of Strategic Group, owner of several residential
and commercial buildings in the city, was taken to hospital
after multiple shots pierced the windshield of a late-model
Rolls Royce he was driving. tgam.ca/2hUVHEq

** Canadian owners of diesel-equipped vehicles made by
Volkswagen AG will share up to C$2.1 billion ($1.57
billion) in compensation and be able to sell their cars back to
the automaker under a proposed settlement of a class-action
lawsuit. tgam.ca/2i7iLPx

NATIONAL POST
** Prem Watsa, Canada’s Warren Buffett, is significantly
expanding the reach of insurer Fairfax Financial Holdings …

Corporate Canada loves Donald Trump

Donald Trump in
Alabama.
Mark Wallheiser /
Stringer

Corporate Canada have January 20, 2017 marked on their calendars
with a massive smiley face. While Inauguration Day is something
many of us are trying to pretend will never happen, an
overwhelming majority of Canadian business executives are pumped
up at the prospect of a Donald Trump presidency.

That’s

according to a survey

conducted by public opinions research company, The Gandalf
Group. Between November 16 and December 8, they conducted phone
calls with 155 Canadians executives at the largest 1,000
companies in the country to assess the implications of a Donald
Trump presidency on the American and Canadian economies.

Surprise, surprise, 85 percent of C-Suiters said the
transition to a Republican Trump administration will have a
positive impact on the U.S. economy over the next two years. More
than half — 52 percent — expect their businesses to benefit from
Trump’s policies, and almost two-thirds — 65 percent — believe
the political climate …

World juniors: Focused Team Canada knows what's at stake [Video]

OTTAWA — It’s serious business carrying the weight of the world on your shoulders and the Canadian leaf on the front.
So we’re pleased to learn these Canadian juniors can have some fun when they’re not busy living up to the hype of a team playing at home in the World Junior Hockey Championships.
The way skilled forward Mathew Barzal tells it, life with Team Canada sounds a bit like minor hockey tournament fun — other than the other-worldly expectations.
“We’ve had some bus rides, and were six to a room in an apartment in (Mont) Tremblant, watching movies, watching hockey, playing cards,” Barzal said after the Canadians skated at the Canadian Tire Centre Tuesday in preparation for Wednesday’s pre-tournament game in Ottawa against the Czech Republic.
“On the bus, everybody is talking and playing music,” added Barzal, a New York Islanders prospect. “Honestly, it’s been a really fun experience so far …

Air Canada inaugurates year-round service between Toronto and Port of Spain, Trinidad

Air Canada Rouge Boeing 767-300ER. Photo: WikimediaMONTREAL, Canada — Air Canada on Tuesday inaugurated new year-round service between Toronto and Trinidad. The morning departure of Air Canada Rouge flight AC1880 marks the beginning of twice-weekly, non-stop flights from Toronto to Port of Spain’s Piarco International Airport.”Air Canada is very pleased to inaugurate this new, year-round service between Toronto and Port of Spain as part of our ongoing global expansion. In addition to being a popular vacation destination for Canadians, Canada and Trinidad and Tobago have longstanding ties, with many Canadians of Trinidadian descent visiting friends and relatives, and there are also substantial business ties. This new service will connect conveniently with our extensive domestic and international network through our Toronto-Pearson global hub,” said Benjamin Smith, president, passenger airlines at Air Canada.Air Canada’s Toronto-Port of Spain flights will operate with a 280-seat Boeing 767-300ER featuring two classes …

Announces Closing of Canadian Asset Acquisition and Mid-Quarter Egypt Update for Q4 2016

CALGARY, ALBERTA–(Marketwired – Dec 20, 2016) – TransGlobe Energy Corporation (TSX:TGL)(NASDAQ:TGA) (“TransGlobe” or the “Company”) announces the closing of the Canadian acquisition in the Harmattan area of west central Alberta and a mid-quarter Egypt update for the fourth quarter of 2016. All dollar values are expressed in Canadian dollars unless otherwise stated.
Acquisition Highlights- Canada

Current production ~3,100 barrels of oil equivalent (“boe”) per day (57% liquids weighted)1Operatorship and high working interest in the majority of assets (~88% of current production)
Total Proved reserves ~11.8 million boe2, 5Total Proved plus Probable reserves ~21.3 million boe2, 5Proved plus Probable NPV10 of $110 million5Total Proved plus Probable Reserve Life Index of 18.9 years3Total 145 net drilling locations: 45 Proved plus Probable locations2, 5 and 100+ additional unbooked drilling locations4Total acreage ~110,000 acres (~95,000 net acres)
Total consideration of $80 million (~US$59 million) comprised of $65 million (~US$48 million) cash and a vendor take back note of $15 million5Effective date is December 1st, 2016

TransGlobe Energy Corporation : Announces Closing of Canadian Asset Acquisition and Mid-Quarter Egypt Update for Q4 2016

CALGARY, ALBERTA–(Marketwired – Dec 20, 2016) – TransGlobe Energy Corporation (TSX:TGL)(NASDAQ:TGA) (“TransGlobe” or the “Company”) announces the closing of the Canadian acquisition in the Harmattan area of west central Alberta and a mid-quarter Egypt update for the fourth quarter of 2016. All dollar values are expressed in Canadian dollars unless otherwise stated.
Acquisition Highlights- Canada

Current production ~3,100 barrels of oil equivalent (“boe”) per day (57% liquids weighted)1Operatorship and high working interest in the majority of assets (~88% of current production)
Total Proved reserves ~11.8 million boe2, 5Total Proved plus Probable reserves ~21.3 million boe2, 5Proved plus Probable NPV10 of $110 million5Total Proved plus Probable Reserve Life Index of 18.9 years3Total 145 net drilling locations: 45 Proved plus Probable locations2, 5 and 100+ additional unbooked drilling locations4Total acreage ~110,000 acres (~95,000 net acres)
Total consideration of $80 million (~US$59 million) comprised of $65 million (~US$48 million) cash and a vendor take back note of $15 million5Effective date is December 1st, 2016

Primus VoIP Expansion Broadens Canadian Coverage

December 20, 2016

Being the first company in any market can be a great opportunity to lay groundwork, make inroads, and get customers so used to a product or service that changing becomes inconvenient and thus an entrenched market is established. Primus was the first business voice over Internet protocol (VoIP) provider in Canada, and while that market has expanded since, so too has Primus expanded its own reach, taking its service to another 400,000 users.
Recently, Primus took steps into smaller communities throughout a fairly large swath of Canada, including Ontario, British Columbia, Alberta, and even Quebec. That expansion represented the aforementioned 400,000 users, and gave Primus an impressive new foothold in the market.

Naturally, small and medium-sized businesses (SMBs) are prime beneficiaries of this move, as firms that formerly couldn’t afford such high-end service through standard phone service are now discovering the increased feature set and lowered costs often associated with VoIP …

United States and Canada Take Historic Steps to Protect the Arctic Ocean, EIA Comments

Joint Statement bans drilling in most of the U.S. and Canadian Arctic, and commits to phasing out use of heavy fuel oil by ships in the Arctic WASHINGTON –(BUSINESS WIRE) Today the United States and Canada issued a joint statement banning oil and natural gas drilling in the majority of the Arctic’s Chukchi and Beaufort Seas. Canada also committed to banning all oil and natural gas licensing in the Canadian Arctic with a periodic review for reassessment. Both nations also committed to developing a strategy to phase down the use of heavy fuel oil (HFO) within the Arctic, and to proposing a related plan to the International Maritime Organization (IMO) in 2017. In response to the announcement, Danielle Grabiel, Senior Policy Analyst of EIA, issued the following statement: “Today’s announcement by the United States and Canada is a victory for the Arctic Ocean, as well as the …

World juniors: Focused Team Canada knows what's at stake

OTTAWA — It’s serious business carrying the weight of the world on your shoulders and the Canadian leaf on the front.
So we’re pleased to learn these Canadian juniors can have some fun when they’re not busy living up to the hype of a team playing at home in the World Junior Hockey Championships.
The way skilled forward Mathew Barzal tells it, life with Team Canada sounds a bit like minor hockey tournament fun — other than the other-worldly expectations.
“We’ve had some bus rides, and were six to a room in an apartment in (Mont) Tremblant, watching movies, watching hockey, playing cards,” Barzal said after the Canadians skated at the Canadian Tire Centre Tuesday in preparation for Wednesday’s pre-tournament game in Ottawa against the Czech Republic.
“On the bus, everybody is talking and playing music,” added Barzal, a New York Islanders prospect. “Honestly, it’s been a really fun experience so far …