Saleable assets – Brl Speak http://brlspeak.net/ Wed, 12 Jan 2022 04:39:45 +0000 en-US hourly 1 https://wordpress.org/?v=5.8.2 https://brlspeak.net/wp-content/uploads/2021/11/brl-160x160.png Saleable assets – Brl Speak http://brlspeak.net/ 32 32 CenterPoint Energy (CNP) sells AR & OK gas supply assets https://brlspeak.net/centerpoint-energy-cnp-sells-ar-ok-gas-supply-assets-2/ Tue, 11 Jan 2022 15:38:00 +0000 https://brlspeak.net/centerpoint-energy-cnp-sells-ar-ok-gas-supply-assets-2/ CenterPoint Energy CNP recently completed the previously announced sale of natural gas distribution utilities in Arkansas (AR) and Oklahoma (OK) to Summit Utilities, Inc. Last April, CNP reached an agreement to sell its assets of distribution of natural gas for $ 2.15 billion in cash to Summit Utilities. With the latest acquisition, Summit Utilities will […]]]>

CenterPoint Energy CNP recently completed the previously announced sale of natural gas distribution utilities in Arkansas (AR) and Oklahoma (OK) to Summit Utilities, Inc. Last April, CNP reached an agreement to sell its assets of distribution of natural gas for $ 2.15 billion in cash to Summit Utilities.

With the latest acquisition, Summit Utilities will now own nearly 17,000 miles of main pipeline in Arkansas, Oklahoma and Texarkana, serving more than 500,000 residential and commercial customers. Since all legal formalities have been completed, Summit Utilities will begin serving CenterPoint Energy’s natural gas customers in AR and OK on an immediate basis.

Divestiture helps achieve long-term goals

The decision to sell the natural gas distribution assets in these two assets will allow CenterPoint to focus on fewer areas to execute long-term plans. The net proceeds from the sale will help CNP fund long-term investment plans in regulated utility companies without issuing external equity, which in turn will boost its industry-leading rate base growth.

The divestiture of the intermediate assets will not affect the long-term annual profit growth target of around 6-8%. The reinvestment of the proceeds from the sale and the long-term capital expenditure plan to invest more than $ 18 billion over five years and $ 40 billion over the next decade will continue to drive the performance of CenterPoint Energy.

Recently, Energy of Domination D completed the sale of Questar Pipelines to Southwest Gas Holdings Inc. for $ 1.975 billion. The net proceeds from the sale of assets allowed Dominion to reduce its existing debt and fund capital growth projects. This sale will allow Dominion to focus on the clean energy portfolio, including the development of the largest offshore wind farm in North America. Dominion Energy plans to invest $ 32 billion over the 2021-2025 period to strengthen its existing infrastructure, a significant portion of which will be invested in zero-carbon energy production and storage.

Investments in utility space

In addition to streamlining their portfolios through the divestiture of non-core assets, utilities are also making strategic acquisitions and have long-term investment plans to strengthen and expand their infrastructure to serve the growing number of customers. NextEra Energy NEE and American Water Works AWK, among others, invests in the modernization and maintenance of infrastructure.

NextEra Energy has well-defined plans to invest nearly $ 34.5 billion in different projects during the period 2022-2025. NEE has long-term (three to five year) earnings growth of 8.94% and Zacks’ consensus estimate for NEE’s 2021 earnings has risen 0.4% in the past 90 days.

American Water Works plans to invest $ 13 billion to $ 14 billion in the 2022-2026 period and $ 28-32 billion in the 2022-2031 period. AWK’s long-term earnings growth is pegged at 8.1% and Zacks’ consensus estimate for 2021 earnings has risen 0.2% in the past 90 days.

Price return

Shares of CenterPoint Energy have gained 33.8% in the past year, outperforming the industry rally of 8.9%.

Image source: Zacks Investment Research

Zack Rank

CenterPoint Energy currently has a Zacks Rank # 3 (Hold). You can see The full list of Zacks # 1 Rank (Strong Buy) stocks today here.

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NextEra Energy, Inc. (NEE): Free Inventory Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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CenterPoint Energy (CNP) sells AR & OK gas supply assets https://brlspeak.net/centerpoint-energy-cnp-sells-ar-ok-gas-supply-assets/ Tue, 11 Jan 2022 15:38:00 +0000 https://brlspeak.net/centerpoint-energy-cnp-sells-ar-ok-gas-supply-assets/ This story originally appeared on Zacks CenterPoint Energy CNP recently completed the previously announced sale of natural gas distribution utilities in Arkansas (AR) and Oklahoma (OK) to Summit Utilities, Inc. Last April, CNP reached an agreement to sell its assets of distribution of natural gas for $ 2.15 billion in cash to Summit Utilities.With the […]]]>

This story originally appeared on Zacks

CenterPoint Energy CNP recently completed the previously announced sale of natural gas distribution utilities in Arkansas (AR) and Oklahoma (OK) to Summit Utilities, Inc. Last April, CNP reached an agreement to sell its assets of distribution of natural gas for $ 2.15 billion in cash to Summit Utilities.
With the latest acquisition, Summit Utilities will now own nearly 17,000 miles of main pipeline in Arkansas, Oklahoma and Texarkana, serving more than 500,000 residential and commercial customers. Since all legal formalities have been completed, Summit Utilities will begin serving CenterPoint Energy’s natural gas customers in AR and OK on an immediate basis.

– Zack

Divestiture helps achieve long-term goals

The decision to sell the natural gas distribution assets in these two assets will allow CenterPoint to focus on fewer areas to execute long-term plans. The net proceeds from the sale will help CNP fund long-term investment plans in regulated utility companies without issuing external equity, which in turn will boost its industry-leading rate base growth.
The divestiture of the intermediate assets will not affect the long-term annual profit growth target of around 6-8%. The reinvestment of the proceeds from the sale and the long-term capital expenditure plan to invest more than $ 18 billion over five years and $ 40 billion over the next decade will continue to drive the performance of CenterPoint Energy.
Recently, Energy of Domination D completed the sale of Questar Pipelines to Southwest Gas Holdings Inc. for $ 1.975 billion. The net proceeds from the sale of assets allowed Dominion to reduce its existing debt and fund capital growth projects. This sale will allow Dominion to focus on the clean energy portfolio, including the development of the largest offshore wind farm in North America. Dominion Energy plans to invest $ 32 billion over the 2021-2025 period to strengthen its existing infrastructure, a significant portion of which will be invested in zero-carbon energy production and storage.

Investments in utility space

In addition to streamlining their portfolios through the divestiture of non-core assets, utilities are also making strategic acquisitions and have long-term investment plans to strengthen and expand their infrastructure to serve the growing number of customers. NextEra Energy NEE and American Water Works AWK, among others, invests in the modernization and maintenance of infrastructure.
NextEra Energy has well-defined plans to invest nearly $ 34.5 billion in different projects during the period 2022-2025. NEE has long-term (three to five year) earnings growth of 8.94% and Zacks’ consensus estimate for NEE’s 2021 earnings has risen 0.4% in the past 90 days.
American Water Works plans to invest $ 13 billion to $ 14 billion in the 2022-2026 period and $ 28-32 billion in the 2022-2031 period. AWK’s long-term earnings growth is pegged at 8.1% and Zacks’ consensus estimate for 2021 earnings has risen 0.2% in the past 90 days.

Price return

Shares of CenterPoint Energy have gained 33.8% in the past year, outperforming the industry rally of 8.9%.

Zacks investment research

Image source: Zacks Investment Research

Zack Rank

CenterPoint Energy currently has a Zacks Rank # 3 (Hold). You can see The full list of Zacks # 1 Rank (Strong Buy) stocks today here.

Zacks’ top picks for leveraging artificial intelligence

This world-changing technology is expected to generate $ 100 billion by 2025. From self-driving cars to analyzing consumer data, people are relying on machines more than ever. Now is the time to capitalize on the 4th industrial revolution. Zacks’ Urgent Special Report Reveals 6 AI Choices Investors Need To Know Today.

See 6 artificial intelligence stocks with extreme upside potential >>

Want the latest recommendations from Zacks Investment Research? Today you can download 7 best stocks for the next 30 days. Click to get this free report

NextEra Energy, Inc. (NEE): Free Inventory Analysis Report

CenterPoint Energy, Inc. (CNP): Free Inventory Analysis Report

Dominion Energy Inc. (D): Free Stock Analysis Report

American Water Works Company, Inc. (AWK): Free Inventory Analysis Report

To read this article on Zacks.com, click here.

Zacks investment research

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Letter from Australia: Private gain as sub-Australian assets change hands | Characteristics https://brlspeak.net/letter-from-australia-private-gain-as-sub-australian-assets-change-hands-characteristics/ Mon, 10 Jan 2022 13:48:59 +0000 https://brlspeak.net/letter-from-australia-private-gain-as-sub-australian-assets-change-hands-characteristics/ Unless there is a regulatory setback, the buyout is almost certainly now a done deal. Shareholders will meet to approve the transaction in January 2022. The sale caps a wave of frantic activity leading to the delisting of several Australian infrastructure companies, after what has been described as a momentous year for mergers and acquisitions […]]]>

Unless there is a regulatory setback, the buyout is almost certainly now a done deal. Shareholders will meet to approve the transaction in January 2022.

The sale caps a wave of frantic activity leading to the delisting of several Australian infrastructure companies, after what has been described as a momentous year for mergers and acquisitions in Australia’s listed infrastructure sector.

At the time of writing, three deals, valued at nearly A $ 40 billion, were underway.

The Australian equity market now offers just four pure-play infrastructure stocks, up from 15 ten years ago. Those still trading on the Australian Securities Exchange are Auckland Airport, dual listed; APA Group, gas pipeline operator; and two toll motorway companies, Atlas Arteria and Transurban.

Australia’s super funds already own capital airports across the country, either on their own or through their global co-owned fund manager, IFM Investors and other asset managers.

They also own seaports, toll roads, and power generation and transmission assets – and are increasingly turning to telecommunications towers, fiber optics and data centers.

Some assets were acquired under state government privatization programs, but increasingly the hunting ground is the stock market.

The reasons are threefold:

• The size of Australian funds has reached a level that allows them to buy large assets;
• They need assets that can equal future liabilities; and
• They see value in unappreciated listed assets that would not otherwise be available in the private market.

Sarah Shaw, Founder and Chief Investment Officer of Sydney-based boutique asset manager 4D Infrastructure, says: “Listed airports, including Sydney Airport, lost between 35% and 50% of their value when the market shares corrected last year.

“So you can see why unlisted investors with long-term horizons – and liquidity – take the opportunity to sweep away such undervalued listed assets.”

Shaw emphasizes that this valuable opportunity is not limited to the airport industry or Australia. There has been an increase in mergers and acquisitions in the global infrastructure industry over the past year, as unlisted investors and listed operators seek to capitalize on the value disconnect.

She suggests that any proprietary, high-quality, long-lived infrastructure asset that trades at a significant discount to fair value is a target.

Shaw also believes that opening the books of Australian listed infrastructure stocks makes it an easier target, as a buyer doesn’t have to deal with a blocking shareholder or onerous withdrawal rules.

Super funds go it alone
Until recently, large Australian super funds invested through specialist global infrastructure fund managers including IFM Investors, Macquarie Group, Brookfield, Global Infrastructure Partners (GIP) and Morrison & Co. Now super funds have become direct investors and competitors for scarce assets. They took a private take-over approach.

In June of this year, Australia’s $ 150 billion Aware Super, in a 50/50 partnership with Macquarie Infrastructure and Real Assets (MIRA), took Australia’s fourth-largest telecommunications player, Vocus, for 3 , 5 billion Australian dollars.

Mark Hector, senior portfolio manager of Aware Super, says the sector program became the first super fund in Australia to bid for 100% of an ASX-listed company when he made a $ 600 million bid. in Australian dollars for telecommunications provider Opticomm last year.

A bidding war with Unite, an existing investor in Opticomm, ultimately saw the super fund abandon its bid.

Aware Super drew the lessons from the Opticomm exercise to work with MIRA in the context of the takeover of Vocus.

Seven years ago, Aware Super did not own any infrastructure assets. Today, it has over AU $ 11 billion in its portfolio, which represents 8-9% of its total assets under management.

Australia’s largest super fund, the A $ 230 billion AustralianSuper, has been investing directly in large infrastructure assets for the past few years. Australian-Super is part of a consortium that includes QSuper (a public sector fund), IFM Investors and New York-based GIP, which is buying Sydney Airport.

In 2020, she also joined a consortium led by global toll motorway operator Transurban to purchase a 49% stake in West-Connex, a toll motorway network in Sydney, for $ 11.1 billion. Australian. The consortium now owns 100% of WestConnex, valued at around A $ 33 billion.

AustralianSuper plans to increase its infrastructure allocation over the next three years from 3% to 15% of its total assets.

Industry watchers say, cautiously, AustralianSuper’s infrastructure allocation will increase to A $ 50 billion to A $ 60 billion by 2024 – from around A $ 27 billion currently.

Jury on the property
Tim Humphreys, head of global listed infrastructure at Ausbil, an Australian asset manager, says super funds buy long-term predictable cash flow.

“If you’re an actuary in a super fund and you can see your liabilities increase by 5% over the next 30 years, then you’re looking at an infrastructure asset that has a highly certain net return of 7% over the same time period. Said Humphreys. “The infrastructure looks extremely attractive to you from an asset-liability pairing perspective.

“By our calculations, many Australian super funds have infrastructure allocations of around 7%. They are well ahead of similar types of pension funds in Europe, with average allocations below 1%.

But the rate of privatization of listed infrastructure companies worries some.

Humphreys says there is a “broad debate” going on in Australia over ownership – whether it is better to leave these assets in the listed format or whether consumers would get better service with unlisted structures.

“The jury is still out,” he said, pointing out that in the UK water market there is now evidence that publicly traded companies outperform private companies.

Shaw claims that owners of contracted or regulated assets, such as utilities and airports, have restrictions on how much they can charge over service standards etc. Failure to meet these standards has repercussions and could damage their return profiles.

It is important to note that contractual or regulatory obligations that give long-term investors certainty of cash flow also offer protection to consumers.

“The contractual or regulatory structure of the asset remains the same whether it’s in listed or private hands – we’re talking about the exact same assets, but with different owners, and the user experience shouldn’t change,” says -she.

Humphreys says listed assets are constantly monitored by the market, the financial press and regulators. This means greater transparency.

“As long as the regulatory regime is sufficiently secure and robust, there should be no impact on the consumer, but of course, if a company is not listed, the consumer who uses the asset loses the opportunity to invest in it. the asset.

“It’s a loss for the [investing] public when an asset is private.

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Legacy Reserves sells $ 800 million in U.S. shale assets https://brlspeak.net/legacy-reserves-sells-800-million-in-u-s-shale-assets/ Mon, 10 Jan 2022 09:58:23 +0000 https://brlspeak.net/legacy-reserves-sells-800-million-in-u-s-shale-assets/ Legacy Reserves operates as an independent energy company. Credit: Anita starzycka / Pixabay. Legacy Reserves is considering divesting its oil and gas assets in the Permian and Haynesville basins in the United States. According to a Reuters report, the company has already appointed an investment bank to handle the asset sale process. At current commodity […]]]>

Legacy Reserves is considering divesting its oil and gas assets in the Permian and Haynesville basins in the United States.

According to a Reuters report, the company has already appointed an investment bank to handle the asset sale process.

At current commodity prices, the assets are valued at around $ 800 million, the news agency added, citing sources close to the development.

According to Legacy estimates, production from shale assets in the Permian Basin would total approximately 11,000 barrels of oil equivalent per day (bepd) in January 2022.

The company’s assets in Haynesville are estimated to produce approximately 108 million cubic feet of natural gas equivalent per day in January.

Legacy went private after coming out of bankruptcy in 2019 and currently operates as an independent energy company.

Legacy Reserves activities are focused on the development of unconventional areas in the Permian Basin, as well as the management of low-decline oil and natural gas wells in the Permian Basin, eastern Texas, the Rocky Mountain regions. and the center of the continent.

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In 2020, the company reported total production of 38,200 bepd.

The report came as the rebound in oil prices increased consolidations in the sector, particularly in the Permian Basin.

Last month, EnCap Investments merged two of its holding companies to create one of the largest private oil producers in the Delaware Basin, part of the larger Permian Basin.

The combined company, which is worth more than $ 4 billion including debt, currently operates eight platforms.

EnCap could list the new company this year, depending on marketing conditions.

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“Matchmaking” targets the assets of stressed Chinese developers https://brlspeak.net/matchmaking-targets-the-assets-of-stressed-chinese-developers/ Sun, 09 Jan 2022 19:15:18 +0000 https://brlspeak.net/matchmaking-targets-the-assets-of-stressed-chinese-developers/ The Guangdong government recently held a “matchmaking” meeting for state-backed developers to buy out troubled assets from indebted private peers, Chinese media outlet Cailianshe reported. China Aoyuan Group (3883), Guangzhou R&F Properties (2777), Poly Developments, China Overseas Land & Investment (0688), Minmetals Land (0230), Yuexiu Property (0123) and Guangzhou Pearl River Enterprises were among the […]]]>

The Guangdong government recently held a “matchmaking” meeting for state-backed developers to buy out troubled assets from indebted private peers, Chinese media outlet Cailianshe reported.

China Aoyuan Group (3883), Guangzhou R&F Properties (2777), Poly Developments, China Overseas Land & Investment (0688), Minmetals Land (0230), Yuexiu Property (0123) and Guangzhou Pearl River Enterprises were among the participants, according to the report. . .

This came after Shanghai-based media earlier reported that some large real estate companies with high-quality balance sheets were told by banks that they can now borrow new loans for the acquisition of projects from struggling developers. , and these loans will not be included in the “three red lines” financial requirements.

Meanwhile, China Vanke (2202) decided to reduce the coupon rate of its 19 Vanke 01 five-year bond due February 2024 from 3.65% in the first three years to 2.5% in the fourth. and fifth years.

The bond, totaling 2 billion yuan (HK $ 2.45 billion), has a term that allows Vanke to adjust the coupon rate for the remaining two years, and bondholders can sell it back to Vanke for a face value of 100 yuan no later than Friday. , according to the developers exchange filing yesterday.

At the same time, the Shimao group is rushing to put up for sale its national projects, including those developed by Shimao Property (0813), in the hope of alleviating its debt burden, said Caixin.

Shimao’s sale still focuses on commercial properties, which have a long payback cycle and are often more difficult to offload than residential properties, according to the report.

Several real estate companies are selecting from Shimao’s project pool and state-owned enterprises could become the first batch of buyers, according to the report.

Many potential buyers have gone to do their due diligence, but few buyers can take over such large commercial properties unless Shimao is willing to give a big discount on the price, a source told Caixin, who also stated that a significant price reduction is unlikely.

Separately, Longfor (0960) plans to split up its property management subsidiary Longfor Intelligent Living in Hong Kong and is expected to raise up to US $ 1 billion (HK $ 7.8 billion) in the listing.

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VCBank Completes Successful Exit of US Westhaven Multi-Family Residential Assets, Provides 54% Return on Investment to Investors https://brlspeak.net/vcbank-completes-successful-exit-of-us-westhaven-multi-family-residential-assets-provides-54-return-on-investment-to-investors/ Sun, 09 Jan 2022 13:50:09 +0000 https://brlspeak.net/vcbank-completes-successful-exit-of-us-westhaven-multi-family-residential-assets-provides-54-return-on-investment-to-investors/ Manama, Bahrain: Venture Capital Bank (VCBank), an Islamic wholesale bank licensed by the Central Bank of Bahrain, today announced its successful exit from a real estate portfolio in the US multi-family residential sector. With a gross sale value of $ 116.5 million, this release generated a return on investment (ROI) of 54 percent; and provided […]]]>

Manama, Bahrain: Venture Capital Bank (VCBank), an Islamic wholesale bank licensed by the Central Bank of Bahrain, today announced its successful exit from a real estate portfolio in the US multi-family residential sector. With a gross sale value of $ 116.5 million, this release generated a return on investment (ROI) of 54 percent; and provided investors with an internal rate of return (IRR) of 11% over the five-year holding period.

The investment includes Westhaven multi-family residential assets in Atlanta, Georgia, United States. VCBank and its investors jointly acquired a 90 percent stake in this portfolio in 2016. The acquisition was made in cooperation with a specialist US operator, which has extensive experience and expertise in the management and operation of assets. multi-family residential.

Commenting on the outing, Mr. Asad Aftab, Project Manager, US Multi-Family Investments at VCBank, said: “These investments have performed exceptionally well during the initial period, providing investors with quarterly dividends ahead of Covid and a product substantial output equivalent to 20%. of investment value. House rent collection was badly hit in 2020 due to Covid, but with constant monitoring and close scrutiny, VCBank continued to seek potential buyers to come out at an opportunistic price. Following the acquisition, the properties underwent a comprehensive value creation program, which involved renovating its apartments, expanding leisure facilities and improving the attractiveness of the properties. .

WestHaven at Vinings is a 610 unit garden and townhouse style apartment community in Atlanta, Georgia. Built in 1984-1989 and remodeled in 2012-2015, the property is located in the exceptional Smyrna submarket, approximately 12 miles northwest of downtown Atlanta.

The setting of the property is excellent for supporting long term value, both in terms of its location in the metropolitan area and its very attractive site. The property has direct access to the Cumberland / Galleria shopping district, which contains 17 million square feet of office space and 3 million square feet of retail space.

VCBank’s growing track record of successful exits from investments in the U.S. multi-family residential sector includes Bridgewater and Preston Creek in Atlanta in 2019 and now WestHaven at Vinings in Atlanta in 2021.

According to Mr. Robert Wages, CEO of VCBank: “Our successful value-added transactions to date in the US multifamily sector – comprising four property acquisitions and three exits – underscore the considerable knowledge and expertise that the Bank has developed in this regard. domain since 2015 They illustrate the excellent returns provided to shareholders and investors resulting from our strategic focus on attractive yielding real estate opportunities in the United States.

“We are optimistic about the future outlook for the US real estate sector given its strong market fundamentals, as well as its demonstrable resilience to economic downturns. The Bank is currently identifying other investment opportunities in major metropolitan areas that show robust economic growth and attractive investment potential. In addition, we are also looking at similar potential investment opportunities in Europe, ”he concluded.

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AAP – The new Indian express https://brlspeak.net/aap-the-new-indian-express/ Sat, 08 Jan 2022 02:00:00 +0000 https://brlspeak.net/aap-the-new-indian-express/ Through Express news service NEW DELHI: AAP chief spokesperson and MPP Saurabh Bhardwaj alleged on Friday that the BJP ruled that the North Delhi Municipal Corporation was selling properties worth crore to line their pockets.He said the MCD North’s 2021-22 budget was aimed at making Rs 600 crore by selling assets, but BJP advisers raised […]]]>

Through Express news service

NEW DELHI: AAP chief spokesperson and MPP Saurabh Bhardwaj alleged on Friday that the BJP ruled that the North Delhi Municipal Corporation was selling properties worth crore to line their pockets.
He said the MCD North’s 2021-22 budget was aimed at making Rs 600 crore by selling assets, but BJP advisers raised it to Rs 935 crore.

“This year’s budget had a target of Rs 400 crore, BJP advisers have dramatically increased it to Rs 1,851 crore. Under their corrupt regime, many corporate assets are sold for only 20 percent of their market value. The AAP condemns this end of season sale organized by the BJP in its last days within the municipal corporation ”, declared Bhardwaj.

Bhardwaj said: “If BJP leaders say the move will bring in Rs 935 crore, that means they are selling properties worth at least Rs 4,000-5,000 crore. They have plotted to withdraw to the company of very high value assets for the benefit of private actors. “

However, the mayor of North MCD, Raja Iqbal Singh, did not respond to the allegations and questions. Meanwhile, Delhi BJP spokesperson Praveen Shankar Kapoor said: “Bhardwaj’s statement is a blatant lie because in fact at yesterday’s meeting the budget for the following year 2022- 23 was presented and not for the current year 2021-22.

The year after 2022-2023 will by and large be effective after the municipal elections of April 2022. ”He said:“ The expected income of Rs 935 crore will not only come from the sale of properties, but from several other leaders mentioned in budget discussions. ”

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HTC will sell $ 5 million in hemp mining assets to, and receive an option to acquire, a stake in Starling Brands Inc. https://brlspeak.net/htc-will-sell-5-million-in-hemp-mining-assets-to-and-receive-an-option-to-acquire-a-stake-in-starling-brands-inc/ Sat, 08 Jan 2022 00:26:36 +0000 https://brlspeak.net/htc-will-sell-5-million-in-hemp-mining-assets-to-and-receive-an-option-to-acquire-a-stake-in-starling-brands-inc/ Regina, Saskatchewan – The press wire – January 7, 2022 – HTC Purenergy Inc. o / a HTC Extraction Systems (“HTC“or the”Society”) (TSXV: HTC), (OTCQB: HTPRF), (UII: FRA) announced today that following its press release dated December 31, 2021, it has applied for the approval of the TSX Venture Exchange (the “TSXV“) of its sale […]]]>

Regina, Saskatchewan – The press wire – January 7, 2022 – HTC Purenergy Inc. o / a HTC Extraction Systems (“HTC“or the”Society”) (TSXV: HTC), (OTCQB: HTPRF), (UII: FRA) announced today that following its press release dated December 31, 2021, it has applied for the approval of the TSX Venture Exchange (the “TSXV“) of its sale (the”Transaction“) some of its assets used in its California-based cannabidiol extraction business (collectively, the”Assets“) to Starling Brands Inc. (“Starling“), a privately held company that directs the extraction and formulation of medical, wellness and recreational cannabis products in California, for an aggregate purchase price of $ 5,000,000 (the”Purchase price“), pursuant to an asset sale and purchase agreement dated December 31, 2021 between the Company and Starling (the”Agreement“).

The Assets include certain equipment and inventory of the Company, the full benefit of all warranties and warranty rights against manufacturers or sellers that apply to the Assets, and all other property, assets, rights, interests, rights, benefits and privileges of any kind or nature whatsoever of the Company directly related to the foregoing.

In accordance with the terms and conditions of the Agreement, the Purchase Price is payable upon closing of the Transaction (the “Closing”) In $ 5,000,000 in cash, subject to the Option (as defined herein) granted to the Company. Pursuant to the Agreement, the purchase price may be payable, at the option of the Company, by the issuance of 5,000,000 Class A common shares of Starling (the “Optional actions“) at a deemed price of $ 1.00 per option share (the”Option“). The option will be deemed to have been exercised by the Company and the purchase price will be payable by the issuance of the Option Shares, upon delisting of the Company’s Common Shares from the TSXV or upon approval of delisting. the TSXV.

The Company submitted an initial application to the Canadian Securities Exchange (the “CST“) to register the common shares of HTC (the”HTC Actions”), And expects to ask TSXV to voluntarily delist HTC shares upon commencement of trading on the CSE. At this time, the CSE has not yet reviewed HTC’s registration statement as part of its CSE registration request. The listing of HTC Shares on the CSE is expected to be completed during the first quarter of 2022.

In the event that the purchase price is paid by the issuance of option shares, at closing, the Company will be required to enter into a blocking agreement (the “Blocking agreement“), by virtue of which he undertakes not to sell his optional shares without the consent of Starling, until these optional shares are paid up in accordance with a release schedule which provides for the release of 25% of these optional shares on the date which is 6 months after the date on which the optional shares begin to trade on a Canadian stock exchange (the “Registration date”) And on each of the dates falling 12, 18 and 24 months following the Listing Date. In the event that the optional shares are not listed on a Canadian stock exchange by April 30, 2022, the terms and conditions of the lock-up agreement will terminate.

Completion of the Transaction is subject to a number of conditions, including, but not limited to: receipt of all corporate, regulatory and other approvals necessary to complete the Transaction, including ‘TSXV approval; the completion by Starling of a private placement of its units (in one or more tranches) for a minimum amount of $ 3,000,000; the Company having delivered to Starling a valid and negotiable security for all the Assets; the representations, warranties and commitments of each of the Company and Starling provided under the Agreement being true and correct in all material respects at the Closing; and compliance and performance by each of the Company and Starling of all the terms, commitments and agreements set out in the Agreement on or before closing. There can be no assurance that the Transaction will be completed as offered or not at all.

The transaction constitutes a reviewable transaction in accordance with the policies of the TSXV and the Company has requested approval of the transaction from the TSXV. Further details regarding the Transaction will be included in a material change report which will be filed by the Company after receipt of all necessary approvals in connection with the Transaction, including final approval from the TSX Venture Exchange.

The transaction is subject to the approval of the TSXV.

The Company has requested to voluntarily cease trading of its common shares effective January 4, 2022 in order to allow the Company time to submit a request to the TSX Venture Exchange and provide additional information regarding the Transaction. The Company expects that the trading halt will be lifted and the Company’s common shares will continue to trade when the market opens on January 10, 2022.

United States Disclaimer

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act“) or any state securities law and may not be offered or sold in the United States or to US Persons (as that term is defined in Regulation S under the US Securities Act) unless It is not registered under the US Securities Act and laws or an exemption from such registration is available.

NEITHER THE TSXV NOR ITS REGULATORY SERVICE PROVIDER (AS DEFINED IN THE POLICIES OF THE TSXV ACCEPTS RESPONSIBILITY FOR THE SUITABILITY OR ACCURACY OF THE BROADCAST USE.

For more information, contact:

Jeffrey Allison,

HTC extraction systems

Phone: 306352-6132

Eto post: lpk@htcextraction.com

The developments of the HTC business can be followed at www.htcextraction.com and are traded under the symbol HTC

This press release contains “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements“) within the meaning of applicable securities legislation. These forward-looking statements include, without limitation, forecasts, estimates, expectations and targets for future transactions which are subject to a number of assumptions, risks and uncertainties, many of which are beyond HTC’s control. Forward-looking statements are statements which are not historical fact and are generally, but not always, identified by the words “expects”, ” plans “,” anticipates “,” believes “,” intends “,” estimates “,” projects “,” potential “and similar expressions, or that events or conditions” will “,” would be “,” could “,” could “or” should “occur or be achieved. This press release contains forward-looking statements relating to, among other things, the receipt of all necessary approvals in connection with the Transaction, including: approval final of the Tr shares on the TSX Venture Exchange; the timing and ability of the Company to close the Transaction, if applicable; and Étourneau’s timing and ability to list optional shares on a Canadian stock exchange, if any.

Forward-looking information is based on current expectations, estimates and projections which involve a number of risks, which could cause actual results to vary and, in some cases, differ materially from those anticipated by HTC and described in the forward-looking information contained herein. Press release.

Although HTC believes that the important factors, expectations and assumptions expressed in these forward-looking statements are reasonable based on information available to it at the date on which these statements were made, no assurance can be given as to the results, levels of performance. future activity and achievements and these statements are not guarantees of future performance.

The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. HTC disclaims any intention and has no obligation or liability, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

HTC Purenergy Inc. (OTCQB: HTPRF) trades in the OTCQB Venture Market for US and international start-ups and development companies. Companies are up-to-date in their reports and undergo an annual management audit and certification process. Investors can find real-time quotes and market information for the company at www.otcmarkets.com.

(links to: http://www.otcmarkets.com/stock/htprf/quote)

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES

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Legacy Reserves seeks buyers for shale oil and gas assets – sources https://brlspeak.net/legacy-reserves-seeks-buyers-for-shale-oil-and-gas-assets-sources/ Fri, 07 Jan 2022 23:24:00 +0000 https://brlspeak.net/legacy-reserves-seeks-buyers-for-shale-oil-and-gas-assets-sources/ Jan. 7 (Reuters) – Private shale producer Legacy Reserves is seeking a buyer for its oil and gas assets in the Permian and Haynesville basins, two people familiar with the matter told Reuters on Friday. Legacy, which is among the largest producers of natural gas in the United States, has hired an investment bank to […]]]>

Jan. 7 (Reuters) – Private shale producer Legacy Reserves is seeking a buyer for its oil and gas assets in the Permian and Haynesville basins, two people familiar with the matter told Reuters on Friday.

Legacy, which is among the largest producers of natural gas in the United States, has hired an investment bank to handle the process of selling the assets and values ​​them at around $ 800 million at current commodity prices, said the sources.

The company did not respond to phone calls seeking comment and the sources requested anonymity because the sale talks are confidential.

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Crude oil and natural gas prices hit multi-year records last year as the easing of pandemic restrictions boosted demand for fuel. US crude oil was trading around $ 79 a barrel on Friday, up 5% for the week.

High prices have spurred negotiations in the sector, particularly in the Permian Basin, the region of Texas and New Mexico considered to be the heart of America’s shale industry, where production is expected to exceed a record 5 million. barrels a day this month.

Midland, Texas-based Legacy, which went private after coming out of bankruptcy in 2019, estimates production from its Permian assets would total around 11,000 barrels of oil equivalent per day (bepd) in January, said one of the sources.

Buyers also demanded assets in Louisiana’s gas-rich Haynesville area and eastern Texas, betting on the basin’s proximity to the growing US Gulf Coast export hub.

It is estimated that Legacy’s assets in Haynesville would produce about 108 million cubic feet of natural gas equivalent per day in January, the sources said.

Last year, the company had a total production of 38,200 bepd, according to its website.

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Reporting by Shariq Khan; Editing by Devika Syamnath

Our Standards: Thomson Reuters Trust Principles.

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Bluesky Digital Assets Corp. announces the closing of the first tranche of its private placement without intermediary. Raise CA $ 1,629,500 https://brlspeak.net/bluesky-digital-assets-corp-announces-the-closing-of-the-first-tranche-of-its-private-placement-without-intermediary-raise-ca-1629500/ Fri, 07 Jan 2022 21:49:00 +0000 https://brlspeak.net/bluesky-digital-assets-corp-announces-the-closing-of-the-first-tranche-of-its-private-placement-without-intermediary-raise-ca-1629500/ Toronto, Ontario – (Newsfile Corp. – January 7, 2022) – Bluesky Digital Assets Corp., (CSE: BTC) (CSE: BTC.PR.A) (OTCQB: BTCWF) (“Bluesky” or the “Company”) announced today that it has completed the first tranche of its non-brokered private placement financing announced on December 20, 2021. In total, the Company has raised CA $ 1,629,500.00 through the […]]]>

Toronto, Ontario – (Newsfile Corp. – January 7, 2022) – Bluesky Digital Assets Corp., (CSE: BTC) (CSE: BTC.PR.A) (OTCQB: BTCWF) (“Bluesky” or the “Company”) announced today that it has completed the first tranche of its non-brokered private placement financing announced on December 20, 2021. In total, the Company has raised CA $ 1,629,500.00 through the sale of 6,518,000 units.

As previously disclosed in the Company’s press release dated December 20, 2021, all units were offered at a price of Cdn $ 0.25 per unit. Each unit consisted of one common share (a “share”) of the capital of the Company and one common share purchase warrant (the “warrant”), each warrant entitling its holder to purchase one additional common share of the company on a fiscal year price of C $ 0.40 per common share for a period of 36 months from the closing of the financing. The warrants under this offering will be subject to an accelerated expiration date if certain market conditions occur, which are described in the Company’s subscription document. All common shares issued under this offering will be subject to a four month plus one day hold period under applicable Canadian securities laws.

In connection with the closing, the Company also paid CA $ 43,400.00 in finder’s fees and issued 165,600 broker’s warrants. The broker’s warrants were issued on the same terms as the warrants contained in the units of this placement. A director of the Company participated in the private placement on the same terms and conditions as the non-arm’s length subscribers, subscribing a total of 400,000 units for total proceeds of C $ 100,000.00.

All proceeds from the financing will be used to purchase additional mining equipment for the purpose of expanding the company’s existing digital asset extraction operations and for general working capital purposes.

About Bluesky Digital Assets Corp.

Bluesky Digital Assets Corp, is building a high value digital currency business. Bluesky operates digital currencies, such as Bitcoin and Ether, and develops value-added technology services for the digital currency market, such as proprietary technology solutions. Offering a complete value creation ecosystem, Bluesky aims to reinvest an appropriate portion of its digital currency mining profits into its operations. A percentage of the profits will be invested in the development of proprietary technology based on artificial intelligence (“AI”). Overall, Bluesky takes an approach that enables the Company to adapt and adapt to changing conditions within the ever emerging blockchain industry. The Company is poised to capture value in successive phases as this industry continues to grow.

For more information, please visit Bluesky at: https://www.blueskydigitalaassets.com

For more information, please contact:

Mr. Ben Gelfand
CEO and director
Bluesky Digital Assets Corp.
T: (416) 363-3833
E: ben.gelfand@blueskydigitalassets.com

Mr. Frank Kordy
Secretary & Director
Bluesky Digital Assets Corp.
T: (647) 466-4037
E: frank.kordy@blueskydigitalassets.com

Forward-looking statements

The information contained in this press release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained in this document are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. , except as expressly required by applicable securities legislation. Although management believes that the expectations represented in these forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein and, therefore, should not be placed undue reliance on them. Neither CSE nor its regulatory services provider, as that term is defined in CSE policies, accepts responsibility for the adequacy or accuracy of this release. We seek refuge.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109436

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