A Calgary company is getting $3 million in public money to help it create up to 600 new jobs in the city.
The funds will come from the Opportunity Calgary Investment Fund (OCIF), which was created by city council in 2017 with an endowment of $100 million to attract companies and jobs to the city.
LodgeLink, which is an online business platform that provides travel services to companies with large numbers of employees, will use the money to fund 300 new tech jobs as part of an eventual 600-employee expansion over the next five years.
The company’s CEO, Trevor Haynes, says although the pandemic has hurt business travel this year, they’ve already noticed a rebound.
“We were able to keep our employees and focus on product development and repositioning with customers and suppliers, and we’ve begun hiring again as we moved into the fall and we’ve got a reasonably strong hiring plan for 2021,” he said.
Haynes said it was discussions with people at OCIF that helped his team and the parent company, Black Diamond, re-evaluate their earlier assumption that their tech-talent needs for growing LodgeLink would necessitate setting up in another city.
“So my team and myself started looking at it, saying, ‘could we do this here, can we bring the talent and do we think we’ll be able to create a pool of talent within the city that could support a fast-growing company,” he said.
He said Benevity and Solium are two other up-and-coming tech firms that are proving it can be done in Calgary.
Haynes said his company plans to work with educational institutions in Calgary to recruit new tech talent and people who are looking to re-skill.
LodgeLink will lease 50,000 square feet of empty office space in Eau Claire for its expansion.
OCIF has signed 14 funding agreements over the past two years worth $42 million of funding agreements since its inception.
That has in turn attracted spending commitments exceeding $600 million to Calgary, says CEO Mary Moran, who is also head of Calgary Economic Development.
“That’s a 15-to-1 ratio and an example of how we are leveraging Opportunity Calgary Investment Fund to attract more investment and create a stronger, more diverse economy in Calgary,” she said.
Decarbonization gets $501bn investment in 2020 – report – MINING.COM – MINING.com
The largest sector in 2020 was renewable energy, which attracted
$303.5 billion for new projects and small-scale systems. This was
up 2% on 2019, despite covid-related delays to some deals, BloombergNEF reports.
The second-biggest was electric transport, which saw $139 billion
of outlays on new vehicles and charging infrastructure, up 28%.
Electric heat got $50.8 billion of investment, up 12%.
Hydrogen and CCS are small sectors for now, but are expected to
grow, the report reads. In 2020, they received investment of $1.5 billion and $3 billion, respectively down 20% and up 212%.
“Our figures show that the world has reached half a trillion dollars a year in its investment to decarbonize the energy system. Clean power generation and electric transport are seeing heavy inflows, but need to see further increases in spending as costs fall, says Albert Cheung, head of analysis at Bloomberg NEF.
“Technologies such as electric heat, CCS and hydrogen are only attracting a fraction of the investment they will need in the 2020s to help bring emissions under control. We need to be talking about trillions per year if we are to meet climate goals,” Cheung says.
A geographical split of BNEF’s energy transition investment data shows that Europe accounted for the biggest slice of global investment, at $166.2 billion (up 67%), with China at $134.8 billion (down 12%) and the U.S. at $85.3 billion (down 11%). Europe’s impressive performance was driven by a record year for electric vehicle sales, and the best year in renewable energy investment since 2012.
Meanwhile, Europe and China are still vying for top position among
markets active in energy transition investment.
(Read the full report here)
Otso Announces Receipt of Shareholder Approval of US$11 Million Strategic Investment by Brunswick Gold Ltd – Investing News Network
Otso Gold Corp. is pleased to announce that, further to its press release dated December 22, 2020, the Company has received shareholder approval in respect of the private placement of units for aggregate gross proceeds of US$11 million to Brunswick Gold Ltd to elect Brian Wesson, Clyde Wesson, Yvette Harrison, Vladimir Lelekov, Nicolas Pascault, Victor Koshkin and Martin Smith as directors. To this end, on …
Otso Gold Corp. (“ Otso ” or the “ Company ”), (TSXV:OTSO) is pleased to announce that, further to its press release dated December 22, 2020, the Company has received shareholder approval in respect of the private placement of units for aggregate gross proceeds of US$11 million (the “ Financing ”) to Brunswick Gold Ltd (“ Brunswick Gold
The Company’s annual and special shareholders meeting was held on January 20, 2021 whereat the Company’s shareholders overwhelmingly voted to:
– elect Brian Wesson, Clyde Wesson, Yvette Harrison and Christopher Towsey as directors; provided however, if the Financing is completed (as anticipated), to elect Brian Wesson, Clyde Wesson, Yvette Harrison, Vladimir Lelekov, Nicolas Pascault, Victor Koshkin and Martin Smith as directors. To this end, on completion of the Financing, Mr. Christopher Towsey has agreed to tender his resignation as a director;
– approve the re-appointment of PricewaterhouseCoopers LLP, Chartered Professional Accountants as auditors of the Company;
– approve PFL Raahe Holdings LP and Brunswick Gold each becoming a new “Control Person” under the rules of the TSX Venture Exchange upon the closing of the Financing; and
– approve the Company’s rolling stock option plan.
The Financing is expected to close shortly as the the Company is now only awaiting the ordinary course TSX Venture Exchange clearance of various personal information forms (PIFs) in connection with Brunswick Gold becoming a new ‘control person’.
As a correction to the Company’s press release dated December 22, 2020, the aggregate 284,944,440 units (for gross proceeds of US$11 million), with each unit comprised of one common share and one common share purchase warrant, to be issued to Brunswick Gold will include 25,904,040 units to settle the US$1 million principal of an unsecured loan currently owed to an affiliate of Brunswick Gold; such loan to be assigned to Brunswick Gold at or immediately prior to completion of the Financing.
For further information, please contact:
1 917 287 0716
This press release contains forward-looking statements regarding the Company based on current expectations and assumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are forward-looking statements under applicable Canadian securities legislation. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution our readers of this press release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s continuous disclosure documents that can be found on SEDAR ( www.sedar.com ) under the Company’s issuer profile. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
About the Company
Otso Gold Corp. wholly owns the Otso Gold Mine near the town of Raahe in Finland. The Otso Gold Mine is developed, fully permitted, has all infrastructure in place, two open pits and is progressing towards production in 2021 to process ore at name plate capacity of 2 million tonnes per annum.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2021 TheNewswire – All rights reserved.
News Provided by TheNewsWire via QuoteMedia
These Stocks That Are More of a Gamble Than an Investment – Barron's
Some stock market trading activity has looked an awful lot like gambling as of late, with huge run-ups in companies that have shown little actual evidence of profits, or in some cases, sales.
Academics say there’s more in common between gambling and stocks than you might imagine. And researchers have a simple methodology for determining which stocks are gambles rather than investments.
A research paper released this month found that gambling accounted for about 14% of stock market volume in developed countries, and that stock market gambling is 3.5 times the combined gambling in casinos, lotteries, horse racing, sports betting, gaming machines, and online gambling. The U.S. and Hong Kong have the highest per capita levels of stock market gambling in the world.
The paper—from Alok Kumar of the University of Miami, Houng Nguyen of the University of Danang, and Talis Putnins at the University of Technology Sydney and Stockholm School of Economics—proposes looking at volume over market cap as a way of determining lottery stocks. “We assume that gambling in stock markets involves disproportionate amount of trading in lottery-like stocks,” they said.
The list makes intuitive sense—a variety of travel and energy stocks, such as American Airlines Group (ticker: AAL) and
Broadening out the screen to any New York Stock Exchange or Nasdaq-listed company with a market capitalization of at least $500 million yields even more aggressive plays, such as cannabis stock Sundial Growers (SNDL) and genome analysis specialist
The analysis can also easily be extended across the world.
(ARB.London) headlines the London-listed lottery stocks with market caps of at least $500 million. Solar play
GCL New Energy Holdings
(451.Hong Kong) is the biggest lottery play among Hong Kong-listed stocks.
One perhaps surprising finding from the researchers is that the stock-market gambling helps the broader market function. “Even if gamblers are relatively or completely uninformed traders, they can still contribute to market efficiency by making markets more liquid and thereby encouraging informed trading,” researchers found.
Write to Steve Goldstein at email@example.com
Why George Springer is such a big get for the Blue Jays – CBC.ca
COVID-19 variant identified at Barrie, Ont., long-term care home where 19 residents have died – CTV Toronto
Satellogic signs multi-launch contract with SpaceX – SpaceNews
Silver investment demand jumped 12% in 2019
Iran anticipates renewed protests amid social media shutdown
Galaxy M31 July 2020 security update brings Glance, a content-driven lockscreen wallpaper service
Sports12 hours ago
Three potential reasons why the Toronto Raptors have waived Alex Len – Raptors Rapture
Economy17 hours ago
Canadian dollar gains as stimulus hopes boost Wall Street
News19 hours ago
Biden intelligence pick favors ‘aggressive’ stance on China threat
Sports18 hours ago
Canadiens’ penalty killers simply perfect in Edmonton
News18 hours ago
Alibaba’s Jack Ma makes first public appearance in three months
Economy18 hours ago
China worries about lagging consumption as broader economy shakes off COVID – Financial Post
Sports20 hours ago
Report: Blue Jays still trying to sign outfielder Michael Brantley – Sportsnet.ca
Tech19 hours ago
Xiaomi Mi 11 Pro flagship smartphone to come with 120x zoom support – gizmochina