A roundup of the most newsworthy press
releases from Cision Distribution this week
TORONTO, Aug. 2, 2024
/CNW/ - With thousands of press releases published each week, it
can be difficult to keep up with everything on Cision. To help
journalists and consumers stay on top of the week's most newsworthy
and popular releases, here's a recap of some major stories from the
week that shouldn't be missed.
The list below includes the headline (with a link to the full
text) and an excerpt from each story. Click on the press release
headlines to access accompanying multimedia assets that are
available for download.
- Tourmaline Delivers Strong Free Cash Flow in Q2 2024,
Reduces Net Debt, Announces an Increase to Quarterly Base Dividend
and Declares a Special Dividend
Second quarter average production was 561,787 boepd, a 13% increase
over second quarter 2023 average production of 495,918 boepd and
within the second quarter 2024 average production guidance range of
560,000-570,000 boepd, announced on May 1,
2024 - Second quarter cash flow(1)(2) ("CF") of
$755.1 million ($2.12 per diluted share(3)) on total
cash capital expenditures(4) of $294.1 million (EP expenditures(5) of
$306.6 million in Q2 2024),
generating free cash flow (6) ("FCF") of $433.5 million for the quarter ($1.22 per diluted share). In 2024, the Company
expects to generate CF of $3.4
billion(7) ($9.62
per diluted share) and FCF of $1.3
billion ($3.63 per diluted
share) on EP expenditures of $2.0
billion.
- BCE reports second quarter 2024 results
"Bell's Q2 results reflect the Bell team's disciplined execution
and continued ability to navigate an evolving marketplace,"
said Mirko Bibic, President and CEO of BCE and Bell
Canada. "We're also making strides in our transformation from a
telco to a tech services and digital media leader. Our expanding
capabilities in cloud services, security and managed automation
drove strong business solutions services revenue growth of 22% this
quarter, and we're seeing momentum in 5G and IoT B2B solutions with
mobile connected device net activations up 10.5% over 2023. On the
Bell Media front, our advanced advertising solutions for clients
drove a 35% increase in digital advertising revenue."
- Tamarack Valley Energy Announces Q2 2024 Financial Results,
Achieves Milestone to Increase Shareholder Returns and Provides
Operational Update
Brian Schmidt, President and CEO of
Tamarack stated: "Tamarack has been steadfast in our commitment to
reducing debt, demonstrating operational excellence and delivering
on our return of capital framework for shareholders. On a YoY
basis, net debt has been reduced by ~$491MM or 36%. This reflects
execution and delivery of results, driven by the successful
transformation of the Company, that has enabled growth within our
Clearwater and Charlie Lake core areas, where both plays
delivered record high quarterly production in Q2/24. Leveraging our
high quality heavy and light oil assets, Tamarack remains focused
on execution of our strategic plan which underpins delivery of
long-term value to our shareholders."
- Lightspeed Announces First Quarter 2025 Financial Results
and Raises Adjusted EBITDA Outlook for Fiscal 2025
Lightspeed Commerce Inc. ("Lightspeed" or the "Company") (TSX:
LSPD) (NYSE: LSPD), today announced financial results for the three
months ended June 30, 2024.
Lightspeed is the unified POS and payments platform for ambitious
entrepreneurs to accelerate growth, provide the best customer
experiences and become a go-to destination in their space. "Fiscal
2025 is off to a great start with first quarter revenues and
Adjusted EBITDA exceeding outlook," said Asha Bakshani, CFO.
"We have spent the last year expanding payments adoption and
right-sizing our cost structure and that is reflected in our
results today. We are now turning our focus to accelerating growth
in our software business so that we can continue to pursue our goal
of profitable growth."
- History Suggests Stressful Times for the Canadian Housing
Market
The Bank of Canada benchmark rate (BoC Rate) was cut on July 24, 2024, marking
its second cut in the past two months. Given that government bond
yields have also dropped, the current best fixed and variable
mortgage rates, shown below, are at their lowest in the past 17
months. While some believe these low rates might boost the real
estate market, recent history tells a more complex story. We at
WOWA Leads analyzed mortgage payments for a new purchase versus
income over the last 50 years in Canada to see if there
is any correlation between home prices and drops in mortgage rates
from their peaks.
- Medline Canada announces
expansion of Manitoba medical
supplies distribution centre
Over the last decade, Medline Canada has expanded its supply chain
network nationally while growing product offerings, capabilities
and market share. Medline's expansion in Manitoba follows the company's recent opening
of a 160,000-square-foot Western distribution hub in Rocky
View, Alberta, just north of Calgary. The
new Manitoba location, at 179 Westcreek Way in
Rosser (25 km northwest of Winnipeg), will improve
Medline's inventory flexibility, and efficiency and enhance service
responsiveness to
customers in Manitoba and Saskatchewan.
- Reconafrica Enters Into Definitive Strategic Farm Down
Agreement With BW Energy
Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica")
(TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) announces that, further
to its announcement on July 16, 2024, it has entered into a
definitive farm down agreement with BW Energy Limited ("BW Energy")
(OSE: BWE) dated July 30, 2024, for the sale of a 20% working
interest in Petroleum Exploration Licence 73 ("PEL 73"), in
northeast Namibia. The terms of the agreement are as described
in the press release dated July 16, 2024.
- CIBC furthers its commitment to AI learning and research
through the Vector Institute
CIBC is a founding sponsor of the Vector Institute, and since its
inception in 2017 has played an ongoing role in helping to advance
Canadian AI research. More recently the bank has participated
in Vector's Dataset Shift Project, an
industry-academia collaboration in response to the pandemic and the
shifts that it brought about in consumer behaviour, and the bank
hosted an AI Research: Trustworthy AI &
MLOps panel featuring Vector, which explored
principles and practices helping to guide the ethical development
and management of AI systems. CIBC has also collaborated with
Vector research to publish a paper at the EMNLP 2022 conference for
Neural Agent Assistance for customer Service Support with language
model and generative AI.
- Super Heroes, Assemble! Marvel Fun is Coming to a Grocery
Store Near You
Get ready to unleash your inner Super Hero as a cool Marvel trading
card promotion comes to your neighbourhood grocery store. It's time
to embark on an epic adventure filled with collectibles, games, and
incredible prizes! "We're always looking for new and exciting ways
to show our gratitude to Canadians and what better way to do that
than with Marvel," said Mary MacIsaac, Senior Vice President,
Marketing and Control Brands, Loblaw Companies Ltd. "Whether you're
checking out our new flyer promotions, weekly special bonus offers
on major brands or stocking up on Hit of the Month deals, Marvel
will add more thrill and excitement to your regular trip to the
grocery store."
- Quimbaya Gold Announces Strategic Partnership for 100,000
Meters of Drilling
Quimbaya Gold Inc. ("Quimbaya Gold" or the "Company") (CSE: QIM)
(OTCQB: QIMGF) is excited to announce the signing of a 5-year
drilling contract with Independence Drilling S.A. of Colombia ("Independence"). The contract
involves completing 100,000 meters of drilling across Quimbaya
Gold's properties. As a significant strategic partnership, which
took nearly ten months to finalize, it underscores Quimbaya Gold's
commitment to advancing its exploration activities and creating
value for its shareholders. Independence, a family-owned company,
is highly reputable and the largest Colombian drilling company,
with over 40 years of experience and a fleet of 47 rigs for oil
& gas, mining, and water drilling.
Read more of the latest releases from
Cision, see our resources for
journalists, and stay caught up on the top press
releases by following @cnwnews.
About Cision Canada
Cision is a comprehensive communications platform enabling more
than 100,000 public relations and marketing professionals around
the world to understand, influence and amplify their stories. As
the market leader, Cision enables the next generation of
communication professionals to strategically operate in the modern
media landscape where company success is directly impacted by
public opinion. Cision has offices in 24 countries through the
Americas, EMEA and APAC, and offers a suite of best-in-class
solutions, including Newswire, Brandwatch, Cision Communications
Cloud® and Cision Insights. To learn more, visit
www.cision.ca and follow @CisionCA on Twitter.
SOURCE Cision Canada