Just Energy Group Inc. (JE.TO)
- The Canadian Press
Most actively traded companies on the Toronto Stock Exchange
TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (16,246.72, down 48.94 points.)Zenabis Global Inc. (TSX:ZENA). Health care. Down 2.5 cents, or 26.32 per cent, to seven cents on 19 million shares.Suncor Energy Inc. (TSX:SU). Energy. Down 11 cents, or 0.61 per cent, to $17.825 on 10 million shares. Just Energy Group Inc. (TSX:JE). Energy. Up 4.5 cents, or 15.79 per cent, to 33 cents on 9.5 million shares.Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Down 81 cents, or 3.32 per cent, to $23.57 on 8.4 million shares. Kinross Gold Corp. (TSX:K). Materials. Up one cent, or 0.08 per cent, to $12.31 on 7.5 million shares.Nuvei Corp. (TSX:NVEI.U) Technology. Up US$12.32 or 58.67 per cent, to US$33.67 on 6.15 million shares.Companies in the news: Teck Resources Ltd. (TSX:TECK.B). Up 66 cents or 3.5 per cent to $19.58. Construction delays related to a COVID-19 shutdown of its Quebrada Blanca Phase 2 copper mining project in Chile will add between US$260 million and US$290 million in costs and delay startup by five to six months, mining company Teck Resources Ltd. says. About 7,500 workers were at the construction site for the US$5.2-billion project when the pandemic erupted last March and all but a small care and maintenance crew were sent home, Teck CEO Don Lindsay said during an online industry conference Thursday. Work that was able to move forward during the shutdown included permitting, offsite equipment manufacturing, transporting of goods to the site and road construction.Nuvei Corp. — Montreal payments company Nuvei Corp. is making history by raising US$700 million through an IPO, the largest amount by a technology company in TSX history. The company's more than 26.9 million subordinate voting shares closed well above the US$26 where they were priced and US$20 to US$22 in initial marketing. Nuvei is on track to nab $625 million in gross proceeds from the IPO, which is expected to close on Tuesday and is subject to customary closing conditions. The Caisse de depot and Novacap-backed company provides payment solutions to 50,000 merchants, technology and distribution partners around the world.This report by The Canadian Press was first published Sept. 17, 2020.The Canadian Press
- Motley Fool
Why Just Energy Group Spiked Over 100% Today
Shares of Just Energy Group (NYSE: JE) more than doubled this morning, before settling back to a gain of 34% as of 11:50 a.m. EDT. Just Energy announced it is one step away from closing its recapitalization plan. It said it is only awaiting final approval by the Federal Energy Regulatory Commission (FERC), the U.S. agency that regulates the transmission and sale of electricity and natural gas in interstate commerce.
- GlobeNewswire
Just Energy Announces Update for Closing of Plan of Arrangement
TORONTO, Sept. 17, 2020 (GLOBE NEWSWIRE) -- Just Energy Group Inc. (“Just Energy” or the “Company”) (TSX:JE; NYSE:JE), a retail energy provider specializing in electricity and natural gas commodities and bringing energy efficient solutions and renewable energy options to customers, today announced that it is only awaiting the approval of the Federal Energy Regulatory Commission (“FERC”) to be able to close the Company’s previously announced plan of arrangement (the “Plan of Arrangement”). The FERC application was not subject to any interventions, comments or objections. As previously announced, Just Energy has obtained all required stakeholder approvals and the final order from the Ontario Superior Court of Justice enabling the Plan of Arrangement to proceed.The Plan of Arrangement includes a recapitalization (the “Recapitalization”) that will strengthen and de-risk the business and position Just Energy for sustainable growth as an independent industry leader.The Recapitalization significantly improves Just Energy’s financial flexibility with a cash injection of approximately C$100 million from its equity raise and, among other things, reduces net debt and preferred shares by approximately C$520 million.About Just Energy Group Inc.Just Energy is a consumer company focused on essential needs, including electricity and natural gas health and well-being, such as water quality and filtration devices; and utility conservation, bringing energy efficient solutions and renewable energy options to consumers. Currently operating in the United States and Canada, Just Energy serves residential and commercial customers. Just Energy is the parent company of Amigo Energy, EdgePower Inc., Filter Group Inc., Hudson Energy, Interactive Energy Group, Tara Energy, and TerraPass. Visit https://investors.justenergy.com/ to learn more. Also, find us on Facebook and follow us on Twitter.FORWARD-LOOKING STATEMENTS This press release may contain forward-looking statements. These statements are based on current expectations that involve a number of risks and uncertainties which could cause actual results to differ from those anticipated. These statements are based on current expectations that involve several risks and uncertainties which could cause actual results to differ from those anticipated. These risks include, but are not limited to, risks with respect to raising new equity capital and the exchange of debt; the proposed recapitalization transaction resulting in a financially stronger Company; reducing the Company’s existing debt and interest expense (including the amounts thereof); proceedings under the CBCA; implementing a Plan of Arrangement; issuing new equity; the allocation of any new equity; addressing certain obligations as part of a proposed recapitalization transaction; risks associated with the proposed recapitalization transaction, including the inability to complete a proposed recapitalization transaction or complete a proposed recapitalization transaction in a timely or efficient manner; the inability to reduce the Company’s debt and/or interest payments, proceedings under the CBCA; issuing and allocating new equity including the dilution of the Company’s outstanding common shares; the value of existing equity following the completion of a recapitalization; the impact of the evolving COVID-19 pandemic on the Company’s business, operations and sales; reliance on suppliers; uncertainties relating to the ultimate spread, severity and duration of COVID-19 and related adverse effects on the economies and financial markets of countries in which the Company operates; the ability of the Company to successfully implement its business continuity plans with respect to the COVID-19 pandemic; the Company’s ability to access sufficient capital to provide liquidity to manage its cash flow requirements; general economic, business and market conditions; the ability of management to execute its business plan; levels of customer natural gas and electricity consumption; extreme weather conditions; rates of customer additions and renewals; customer credit risk; rates of customer attrition; fluctuations in natural gas and electricity prices; interest and exchange rates; actions taken by governmental authorities including energy marketing regulation; increases in taxes and changes in government regulations and incentive programs; changes in regulatory regimes; results of litigation and decisions by regulatory authorities; competition; the performance of acquired companies and dependence on certain suppliers. Additional information on these and other factors that could affect Just Energy’s operations, financial results or dividend levels are included in Just Energy’s annual information form and other reports on file with Canadian securities regulatory authorities which can be accessed through the SEDAR website at www.sedar.com on the U.S. Securities and Exchange Commission’s website at www.sec.gov or through Just Energy’s website at www.justenergygroup.com.Neither the Toronto Stock Exchange nor the New York Stock Exchange has approved nor disapproved of the information contained herein.FOR FURTHER INFORMATION PLEASE CONTACT: Jim Brown Chief Financial Officer Just Energy 713-544-8191 jbrown@justenergy.comorInvestors Michael Cummings Alpha IR Phone: (617) 982-0475 JE@alpha-ir.comMedia Boyd Erman Longview Communications Phone: 416-523-5885 berman@longviewcomms.caSource: Just Energy Group Inc.
