CALGARY, Alberta, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Birchcliff Energy Ltd. (" Birchcliff ” or the " Corporation ”) (TSX: BIR) is pleased to announce that the Toronto Stock Exchange (the " TSX ”) has accepted the Corporation's notice of intention to make a normal course issuer bid (the " NCIB ”). The NCIB allows Birchcliff to purchase up to 13,489,975 common shares, which represents 5% of its 269,799,514 common shares outstanding as at November 14, 2024. The NCIB will commence on November 27, 2024 and will terminate no later than November 26, 2025. Under the NCIB, common shares may be purchased in open market transactions on the TSX and/or alternative Canadian trading systems at the prevailing market price at the time of such transaction. Subject to exceptions for block purchases, the total number of common shares that Birchcliff is permitted to purchase on the TSX during a trading day is subject to a daily purchase limit of 276,992 common shares, which represents 25% of the average daily trading volume on the TSX of 1,107,970 common shares for the six-month period ended October 31, 2024. All common shares purchased under the NCIB will be cancelled. Birchcliff believes that at times, the market price of its common shares may not reflect the underlying value of the Corporation's business and that purchasing its common shares for cancellation may represent an attractive opportunity to allocate capital resources to reduce the number of common shares outstanding, thereby increasing the value of the remaining common shares and shareholders' ownership in the underlying business. In addition, Birchcliff may use the NCIB to offset the number of common shares it issues throughout the year pursuant to the exercise of options granted under its stock option plan to minimize or eliminate associated dilution to shareholders. The actual number of common shares purchased pursuant to the NCIB and the timing of such purchases will be determined by Birchcliff. Decisions to purchase common shares under the NCIB will be based on market conditions, the trading price of the common shares and alternative uses of capital resources available to the Corporation. There cannot be any assurance as to how many common shares, if any, will ultimately be acquired by Birchcliff. Under Birchcliff's existing normal course issuer bid, it obtained the approval of the TSX to purchase up to 13,328,267 common shares over the period from November 27, 2023 to November 26, 2024. The Corporation has not purchased any common shares under this normal course issuer bid. Forward-Looking Statements Certain statements contained in this press release constitute forward-looking statements and forward-looking information (collectively referred to as " forward-looking statements ”) within the meaning of applicable Canadian securities laws. All statements and information other than historical fact may be forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on such forward-looking statements. Although Birchcliff believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct and Birchcliff makes no representation that actual results achieved will be the same in whole or in part as those set out in the forward-looking statements. In particular, this press release contains forward-looking statements relating to the NCIB, including potential purchases under the NCIB and the effects and benefits of the NCIB. With respect to the forward-looking statements contained in this press release, assumptions have been made regarding, among other things: the anticipated benefits of the NCIB; prevailing and future commodity prices and differentials, exchange rates, interest rates, inflation rates, royalty rates and tax rates; the state of the economy, financial markets and the exploration, development and production business; the political environment; the regulatory framework; future cash flow, debt and dividend levels; future operating, transportation, marketing, G&A and other expenses; Birchcliff's ability to access capital and obtain financing on acceptable terms; the timing and amount of capital expenditures and the sources of funding for capital expenditures and other activities; the sufficiency of budgeted capital expenditures to carry out planned operations; the successful and timely implementation of capital projects; results of operations; Birchcliff's ability to continue to develop its assets and obtain the anticipated benefits therefrom; the performance of existing and future wells; and the ability to obtain any necessary regulatory approvals in a timely manner. Birchcliff's actual results, performance or achievements could differ materially from those anticipated in the forward-looking statements as a result of both known and unknown risks and uncertainties including, but not limited to: the failure to realize the anticipated benefits of the NCIB; a failure to execute purchases under the NCIB; the risks posed by global conflict and their impacts on supply and demand and commodity prices; actions taken by OPEC and other major producers of crude oil and the impact such actions may have on supply and demand and commodity prices; general economic, market and business conditions which will, among other things, impact the demand for and market prices of Birchcliff's products and Birchcliff's access to capital; volatility of crude oil and natural gas prices; risks associated with increasing costs, whether due to high inflation rates, supply chain disruptions or other factors; stock market volatility; an inability to access sufficient capital from internal and external sources on terms acceptable to the Corporation; risks associated with Birchcliff's credit facilities; operational risks and liabilities inherent in oil and natural gas operations; uncertainty that development activities in connection with Birchcliff's assets will be economic; geological, technical, drilling, construction and processing problems; the accuracy of cost estimates and variances in Birchcliff's actual costs and economic returns from those anticipated; and changes to the regulatory framework in the locations where the Corporation operates. Readers are cautioned that the foregoing lists of factors are not exhaustive. Additional information on these and other risk factors that could affect Birchcliff's results of operations, financial performance or financial results are included in Birchcliff's most recent annual information form under the heading "Risk Factors” and in other reports filed with Canadian securities regulatory authorities. Management has included the above summary of assumptions and risks related to forward-looking statements provided in this press release in order to provide readers with a more complete perspective on Birchcliff's future operations and management's current expectations relating to Birchcliff's future performance. Readers are cautioned that this information may not be appropriate for other purposes. The forward-looking statements contained in this press release are expressly qualified by the foregoing cautionary statements. The forward-looking statements contained herein are made as of the date of this press release. Unless required by applicable laws, Birchcliff does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. ABOUT BIRCHCLIFF: Birchcliff is a dividend-paying, intermediate oil and natural gas company based in Calgary, Alberta with operations focused on the Montney/Doig Resource Play in Alberta. Birchcliff's common shares are listed for trading on the TSX under the symbol "BIR”. Suite 1000, 600 - 3 rd Avenue S.W. Calgary, Alberta T2P 0G5 Telephone: (403) 261-6401 Email: [email protected] www.birchcliffenergy.com Bruno Geremia - Executive Vice President and Chief Financial Officer
By HALELUYA HADERO, Associated Press President-elect Donald Trump asked the Supreme Court on Friday to pause the potential TikTok ban from going into effect until his administration can pursue a “political resolution” to the issue. The request came as TikTok and the Biden administration filed opposing briefs to the court, in which the company argued the court should strike down a law that could ban the platform by Jan. 19 while the government emphasized its position that the statute is needed to eliminate a national security risk. “President Trump takes no position on the underlying merits of this dispute. Instead, he respectfully requests that the Court consider staying the Act’s deadline for divestment of January 19, 2025, while it considers the merits of this case,” said Trump’s amicus brief, which supported neither party in the case and was written by D. John Sauer, Trump’s choice for solicitor general. Related Articles The argument submitted to the court is the latest example of Trump inserting himself in national issues before he takes office. The Republican president-elect has already begun negotiating with other countries over his plans to impose tariffs, and he intervened earlier this month in a plan to fund the federal government, calling for a bipartisan plan to be rejected and sending Republicans back to the negotiating table. He has been holding meetings with foreign leaders and business officials at his Mar-a-Lago club in Florida while he assembles his administration, including a meeting last week with TikTok CEO Shou Chew. Trump has reversed his position on the popular app, having tried to ban it during his first term in office over national security concerns. He joined the TikTok during his 2024 presidential campaign and his team used it to connect with younger voters, especially male voters, by pushing content that was often macho and aimed at going viral. He said earlier this year that he still believed there were national security risks with TikTok, but that he opposed banning it. The filings Friday come ahead of oral arguments scheduled for Jan. 10 on whether the law, which requires TikTok to divest from its China-based parent company or face a ban, unlawfully restricts speech in violation of the First Amendment. The law was was signed by President Joe Biden in April after it passed Congress with broad bipartisan support. TikTok and ByteDance filed a legal challenge afterwards. Earlier this month, a panel of three federal judges on the U.S. Court of Appeals for the District of Columbia Circuit unanimously upheld the statute , leading TikTok to appeal the case to the Supreme Court. The brief from Trump said he opposes banning TikTok at this junction and “seeks the ability to resolve the issues at hand through political means once he takes office.” In their brief to the Supreme Court on Friday, attorneys for TikTok and its parent company ByteDance argued the federal appeals court erred in its ruling and based its decision on “alleged ‘risks’ that China could exercise control” over TikTok’s U.S. platform by pressuring its foreign affiliates. The Biden administration has argued in court that TikTok poses a national security risk due to its connections to China. Officials say Chinese authorities can compel ByteDance to hand over information on TikTok’s U.S. patrons or use the platform to spread or suppress information. But the government “concedes that it has no evidence China has ever attempted to do so,” TikTok’s legal filing said, adding that the U.S. fears are predicated on future risks. In its filing Friday, the Biden administration said because TikTok “is integrated with ByteDance and relies on its propriety engine developed and maintained in China,” its corporate structure carries with it risk.
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Percentages: FG 42.029, FT .571. 3-Point Goals: 2-17, .118 (Olsen 1-4, Gyamfi 1-1, Stuelke 0-1, Affolter 0-2, Feuerbach 0-3, Mallegni 0-3, McCabe 0-3) Blocked Shots: 7 (Heiden 3, Stuelke 1, Affolter 1, Mallegni 1, Stremlow 1) Turnovers: 14 (O'Grady 2, Affolter 2, Feuerbach 2, Stremlow 2, Stuelke 1, Olsen 1, Ediger 1, Heiden 1, Guyton 1, Mallegni 1) Steals: 7 (Affolter 2, Olsen 1, Ediger 1, Gyamfi 1, Mallegni 1, Stremlow 1) Technical Fouls: None Percentages: FG 27.419, FT .667. 3-Point Goals: 7-30, .233 (J.Villa 3-9, Wallack 3-8, E.Villa 1-3, Tuhina 0-3, Mendes 0-2, Abraham 0-3, Gardner 0-2) Blocked Shots: 5 (Covill 2, Wallack 1, Mendes 1, Gardner 1) Turnovers: 20 (E.Villa 3, Wallack 3, Alsina 3, Abraham 2, Dart 2, Covill 1, Tuhina 1, J.Villa 1, Mendes 1, Kpetikou 1, Chiu 1, Gardner 1) Steals: 9 (Tuhina 2, Gardner 2, E.Villa 1, J.Villa 1, Abraham 1, Alsina 1, Chiu 1) Technical Fouls: None A_14,998 Officials_Cameron Inouye, Missy Brooks, Lauren Niemiera
Packers wide receiver Romeo Doubs leaves game because of concussionPromotion Affirms Company's Commitment to Galvanize New Era of Tech-Driven Real Estate Investment NEW YORK , Dec. 12, 2024 /PRNewswire/ -- Underscoring its commitment to revolutionize investment strategies by leveraging advanced technologies to drive investor value, real estate investment firm AWH Partners announces the promotion of Devashish (Dev) Sharma to director of analytics. Sharma, who has been with the New York -based firm since July 2023 , has played a pivotal role in enhancing returns for investors by strengthening the integration of technology and data analytics in his previous role in asset management. In this new position, he will leverage the firm's data assets to create insights that sharpen acquisition strategies, improve asset performance, and strengthen overall decision-making and corporate governance, ultimately driving superior outcomes for stakeholders. In leading this newly created role, Sharma will focus on enhancing AWH Partners' cross-functional data ecosystem and optimizing technology-enabled processes to deliver actionable investment insights, streamline analysis, automate recurring tasks, and identify market opportunities ahead of industry trends. By developing business intelligence tools and mechanisms, he will ensure the firm's leadership and continuity in hospitality real estate, delivering enhanced transparency and scalability of tech-driven initiatives to foster sustainable growth and maximize investor returns. With dual master's degrees in business administration and hospitality management from Cornell University , Sharma has 13 years' experience across investment banking, real estate financing, hotel acquisition and hotel asset management. Before relocating to the U.S. for his graduate studies, Sharma was the investment manager at SAMHI Hotels, which specializes in hotel investments in India , and an associate investment manager at Piramal Fund Management, one of the first firms to enter real estate fund management in India . His global expertise in real estate financing and operational excellence has directly contributed to the success of the firm's high-value investment portfolios. "Dev brings a truly exceptional background to this new role with his experience in real estate financing and data analytics, as well as earning advanced degrees in business and hospitality from one of this country's premier Ivy League universities. Since joining AWH, he has demonstrated dedication and passion for helping the firm realize the next level of data-driven decision-making," said Chad Cooley , co-founder and managing partner of AWH Partners. "His work has strengthened our ability to deliver consistent value to our investors, helping us stand out in an increasingly competitive market." AWH Partners has made substantial investments in technology to identify and acquire differentiated investment opportunities in a highly competitive marketplace. This position underscores the firm's strategic focus on combining innovation and expertise to generate superior investor outcomes. By empowering its team with leadership opportunities, AWH Partners fosters an environment where talent thrives, furthering its goal of shaping the future of real estate investment. Sharma's leadership will continue to advance the firm's mission to deliver sustainable growth and performance across its portfolio. A native of India , Sharma is a chartered accountant and earned his bachelor's degree in finance from Sri Venkateswara College at the University of Delhi in 2009. Sharma's global perspective and track record of integrating analytics into investment strategies position him as a key player in advancing AWH Partners' investor-centric vision. "My goal is to further integrate analytics into every aspect of our investment process to ensure we are at the forefront of data and technology use in real estate investment worldwide," he said. About AWH Partners: AWH Partners (AWH) is a leading national platform for hotel real estate investment, management and development. Privately held, it was founded in 2010 by alumni of The Blackstone Group and The Related Companies. The firm partners with marquee institutional investors, family offices, and high-net-worth individuals around the world. Its portfolio includes properties from renowned brands, including the Marriott and Hilton corporations, as well as independently branded assets. View original content to download multimedia: https://www.prnewswire.com/news-releases/awh-partners-promotes-dev-sharma-as-director-of-analytics-302330763.html SOURCE AWH Partners
Income investors have a lot of options on the Australian share market. But which ASX dividend shares do analysts currently think are buys? Let's take a look at two shares that they have been tipping as great picks for investors today. They are as follows: ( ) Ord Minnett continues to believe that Santos would be a great ASX dividend share to buy. It is one of the largest producers in Australia with a collection of world class operations and projects. It highlights Santos' positive free cash flow (FCF) outlook as a reason to buy its shares. The broker notes that this is being supported by its Pikka and Barossa LNG operations. Importantly for income investors, Ord Minnett believes this leaves Santos well-placed to return funds to shareholders. The broker said: An estimated FCF yield of 20% once Pikka and Barossa LNG start producing, and rigorous control of how that extra cash is spent, implies to us that Santos will have plenty of room to return excess capital to shareholders either via an increased payout ratio or share buybacks. In our view, the medium-term prospects for Santos offer a compelling investment opportunity. For now, the broker is forecasting dividends per share of 41 cents in FY 2024 and then 44 cents in FY 2025. Based on the current Santos share price of $6.92, this would mean of 5.9% and 6.35%, respectively. Ord Minnett currently has a buy rating and $8.40 price target on the company's shares. This implies potential upside of 21% for investors. ( ) Another ASX dividend share that could be a great option for income investors is Universal Store. It is the youth fashion behind Thrills, Perfect Stranger, and the eponymous Universal Store brand. Morgans has been impressed with the company's performance so far in FY 2025. It recently said: At its AGM, UNI provided a trading update for the first 17 weeks of FY25 with total direct to consumer (DTC) sales up by an impressive 19.3% on the pcp. LFL sales in Universal Store and Perfect Stranger accelerated in the last 10 weeks from the first 7 weeks, whilst sales moderated in CTC THRILLS DTC business and wholesale demand (ex-Universal Store) remains volatile. Gross margins have been well managed, in our view, and improvements made in 2H24 have continued into FY25 driven by mix (increased private label penetration). In light of this, the broker is now forecasting dividends per share of 34 cents in FY 2025 and then 38 cents in FY 2026. Based on the current Universal Store share price of $7.44, this would mean dividend yields of 4.6% and 5.1%, respectively. Morgans currently has an add rating and $8.75 price target on its shares. This suggests the upside of 18% is possible from current levels.
The nation’s capital market in 2024 witnessed a lot of development that help shaped the sector within the year. The adoption of technology, especially digitalization of public offering and right issue encourages participation of the youths in the market Although the economic challenges in the country persisted during the year, the market recorded growth trend. Capital operators said the problem of high inflation, insecurity, depreciating exchange rate, increase in pump price of petrol and the introduction of a windfall tax that affected sectoral performances, impacted on the market activities during the year. But despite all the challenges the nation’s capital market showed impressive growth within the year, outpacing most African peers in year to Date (YTD) performance. According to Managing Director of Arthur Stephens Management Limited,Mr Olatunde Amolegbe the Nigerian capital market is a key driver of economic growth, offering a platform for mobilizing capital, facilitating investments, and fostering wealth creation. He said that in 2024, the market experienced notable developments shaped by regulatory changes, technological adoption, and macroeconomic factors as 2025 beckons, understanding the successes, challenges, and emerging opportunities is essential for unlocking its full potential. Speaking on the performance of the capital market in the year, he said the NGX-ASI grew by 35.25 per cent from 74,773.77 in December 29, 2023 to 101129.09 as at Friday December 20, 2024. This growth was driven by robust earnings from blue-chip companies and supportive government policies. In his paper titled, “Unlocking the Potential of the Nigerian Capital Market: Challenges and Opportunities contribution, he said “The Nigerian equity market saw a significant 39.84 per cent growth in first quarter 2024, rising from 74,773.77 to 104,562.06. The NGX market capitalization increased from N40.917 trillion in January 2024 to N59.487 trillion in the first quarter, representing 44.49 per cent. This growth was significantly influenced by new listings, such as Transcorp Power Plc, which added N1.8 trillion to market value upon listing.“ However, the second and third quarters experienced modest corrections, with declines of -4.31 per cent in second quarter and -1.50 per cent in third quarter. This was driven by economic challenges, including high inflation, a depreciating exchange rate, and the introduction of a windfall tax that affected sectorial performances, particularly within the Banking sector. “Profit-taking and rising interest rates that redirected investments to fixed income securities and that despite the smaller decline in third quarter, investors remain cautiously optimistic.
Colorado two-way star Travis Hunter plans to turn pro and prefers to continue a dual role, playing wide receiver and cornerback in the NFL. Hunter could be the No. 1 pick in the 2025 NFL Draft and is the favorite for the Heisman Trophy. Speculation about his future quieted as he gained notoriety by the week this season. Field Level Media projects Hunter as a top-three pick in the draft, and he confirmed Thursday this will be his last season at the college level. "That's definitely for sure," Hunter said on a conference call with reporters. Hunter is consistently playing between 100 and 125 snaps per game for Colorado. He has three interceptions on defense with 74 receptions, 911 yards and nine touchdowns playing wideout for quarterback Shedeur Sanders. Also a projected early first-round pick, Sanders committed to play in the East-West Shrine Game in Dallas. The son of Colorado head coach and Hall of Fame cornerback Deion Sanders, Shedeur Sanders said Thursday he would cast a Heisman vote for Hunter. "If it's between me and him, I would want him to get it," Sanders said. "He does a lot of amazing things and things that haven't been done before. I'm not a selfish guy. I know what he's capable of, so I would rather him win." Hunter said he would invite his QB to New York if he's not named a Heisman finalist before they go about the business of finishing the season, possibly in the 12-team College Football Playoff. Shedeur Sanders said he's the best quarterback in the draft, and doesn't believe that's anything new. "I feel like I was the best quarterback in the last draft, too," said Shedeur Sanders. "Ever since I was draft eligible, I knew I'm the best quarterback. It's not up for me to prove myself to talking about why." Former teammates at Jackson State where Deion Sanders also coached, Hunter said he felt his draft stock began to rise only after critics moved past "the hate" for his coach. A flashy, charismatic cornerback in the NFL after starring at Florida State, Deion Sanders was the fifth overall pick in the 1989 NFL Draft by the Atlanta Falcons. Hall of Famers Troy Aikman (first, Cowboys), Barry Sanders (third, Lions) and Derrick Thomas (fourth, Chiefs) were chosen ahead of "Prime Time" along with offensive tackle Tony Mandarich (second, Packers). Hunter has picked the brain of Deion Sanders about a dual role in pro sports. Sanders was used selectively as a wide receiver and returned punts but was primarily a cornerback in addition to playing Major League Baseball. There's no base-stealing in Hunter's future, but he does believe he can push the envelope as a full-time two-way NFL player. "It's never been done," Hunter said. "I understand that it will be a high risk, (teams) don't want their top pick to go down too early, and I know they're going to want me to be in a couple packages. But I believe I can do it. Nobody has stopped me from doing it thus far. I like when people tell me I can't do it." --Field Level MediaColts defense picks up the pace as offense continues searching for answers to red zone woesThe standard Lorem Ipsum passage, used since the 1500s "Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum." Section 1.10.32 of "de Finibus Bonorum et Malorum", written by Cicero in 45 BC "Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt ut labore et dolore magnam aliquam quaerat voluptatem. Ut enim ad minima veniam, quis nostrum exercitationem ullam corporis suscipit laboriosam, nisi ut aliquid ex ea commodi consequatur? Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum fugiat quo voluptas nulla pariatur?" Thanks for your interest in Kalkine Media's content! To continue reading, please log in to your account or create your free account with us.
While he cleared waivers just last week, Dylan Coghlan ’s time in the minors was short-lived. The team announced (X link ) that they’ve recalled the blueliner from AHL Manitoba. Meanwhile, TSN’s John Lu notes (X link ) that blueliner Haydn Fleury is listed as week-to-week with his knee injury while Dylan Samberg will miss at least another five days as he works his way back from a foot injury. Coghlan was acquired from Carolina back in July in exchange for future considerations, signing a one-year, two-way deal soon after. He has been on Winnipeg’s roster for most of the year but that hasn’t resulted in much playing time as he has played just once with the Jets so far. After clearing waivers last week, he got into two contests with the Moose, scoring once. In the short term, Coghlan will likely resume his role as a reserve defenseman. Fleury, meanwhile, tried to skate this morning after being injured on Monday against Toronto but it evidently did not go well, leading to this week-to-week designation. The 28-year-old is in his first season with Winnipeg after signing a one-year, two-way deal with them in the summer and has held down a regular spot in the lineup most nights. Fleury has six assists in 25 games thus far while blocking 44 shots in over 17 minutes a night of action. With an extended absence on the horizon, he’s likely to land on injured reserve in the coming days. As for Samberg, he missed the last month due to his foot injury. Head coach Scott Arniel indicated that the blueliner will skate on his own for the next five days before being reassessed. Speculatively, he’ll need a few days of practice and being cleared for contact from there so his return is still likely more than a week away. Samberg has played in 21 games so far this season, notching three goals and three assists while logging over 20 minutes a night, nearly five minutes a game higher than his ATOI last season. This article first appeared on Pro Hockey Rumors and was syndicated with permission.
