Market Newsdesk

Strong
top
–
and bottom-line growth
driven by
solid execution and
an industry-leading digital platform

Fiscal Year 2020 Highlights

• Record revenue of $1.0 billion increased 33%
• Same-store sales increased 24%
• Net income increased 30% to $48.5 million
• Adjusted EBITDA¹ rose 80% to $83.3 million

BUFORD, Ga., Nov. 19, 2020 (GLOBE NEWSWIRE) — OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or the “Company”) today announced results for its fiscal fourth quarter and full-year ended September 30, 2020.

“The OneWater team delivered exceptional results in our first year as a publicly traded company, including record full year revenues and profitability. Our performance highlighted the strength of our team and its execution, as well as our industry-leading market position. Our investments in innovative technology continue to set us apart, as we captured the surge of new customers to the marine industry in 2020. Further, our custom CRM, inventory management tools and operational dashboards have enabled us to remain agile and outperform the industry,” commented Austin Singleton, Chief Executive Officer at OneWater. “During the fourth quarter, retail demand remained elevated, resulting in substantial growth across our core business segments, including new and pre-owned boat sales, which grew by 29% and 47%, respectively. I am really proud of the entire OneWater team for their commitment to the Company and their relentless focus on our customers.”

“Looking ahead, we expect strong retail demand to continue into the 2021 boating season. Our M&A pipeline remains robust and is a cornerstone to our long-term growth strategy, and we anticipate returning to the cadence of transactions that we routinely completed prior to our IPO. We remain focused on executing our growth strategy and driving long-term shareholder value,” Mr. Singleton concluded.

Fiscal
Fourth
Quarter 2020 Results

Revenue for the fiscal fourth quarter 2020 was $271.0 million, an increase of 29.8% compared to $208.8 million in fiscal fourth quarter 2019, primarily driven by an increase in the average unit price of new and pre-owned boats sold and the continued execution of operational improvements on previously acquired dealers. During the fiscal fourth quarter 2020 same-store sales increased 25%, on top of a 20% increase in the comparable period of 2019. In the current year, the Company realized a 29.4% increase in new boat sales to $186.8 million from $144.4 million in the fiscal fourth quarter of 2019, and an increase of 47.3% in pre-owned boat sales to $56.2 million from $38.1 million in the fiscal fourth quarter of 2019. Service, parts & other sales increased 9.3% to $20.3 million from $18.5 million in the fiscal fourth quarter of 2019.

Gross profit totaled $64.1 million for the fiscal fourth quarter 2020, compared to $46.4 million for the fiscal fourth quarter 2019. Gross profit margin of 23.6% increased 140 basis points compared to the prior year primarily due to a shift in the mix and size of boat models sold, the Company’s focus on dynamic pricing, the increase in service, parts & other sales, and the emphasis on meeting customer demand.

Fiscal fourth quarter 2020 selling, general and administrative expenses totaled $39.7 million, or 14.6% of revenue, compared to $32.6 million, or 15.6% of revenue, in the fiscal fourth quarter of 2019. The decrease in selling, general and administrative expenses as a percentage of revenue was due mainly to leverage on the significant increase in sales and the cost reduction actions enacted following the acceleration of COVID-19 at the end of March of this year.

Net income for the fiscal fourth quarter of 2020 totaled $6.0 million, compared to net income of $5.0 million in the fiscal fourth quarter of 2019, an increase of 18.9%. The increase is primarily due to the increase in sales, leveraging our expense structure and a reduction in interest expense, partially offset by a $6.6 million loss from the extinguishment of debt and a $6.8 million loss on contingent consideration.

Fiscal fourth quarter 2020 Adjusted EBITDA (see reconciliation of Non-GAAP financial measures) increased 108.0% to $23.0 million, compared to $11.1 million for the fiscal fourth quarter of 2019.

Fiscal
Year
Ended September 30,
2020
Results

Revenue for the fiscal year ended September 30, 2020 increased 33.3% to $1,023.0 million from $767.6 million for the fiscal year ended September 30, 2019 driven by an increase in unit sales and average unit price of new and pre-owned boats and a 40.7% increase in finance & insurance sales compared to the prior year. Same store sales increased 24% compared to the prior year.

Gross profit totaled $235.5 million for the fiscal year 2020, compared to $172.1 million for the fiscal year 2019. Gross profit margin of 23.0% increased 60 basis points compared to the prior year primarily due to the increase in the margin achieved on boat sales, increases in finance & insurance income and increases in service, parts & other gross profit.

Fiscal year 2020 selling, general and administrative expenses totaled $143.4 million, or 14.0% of revenue, compared to $116.5 million, or 15.2% of revenue in fiscal year 2019. The decrease in selling, general and administrative expenses as a percentage of revenue was due mainly to leverage achieved on the significant increase in sales and the cost reduction actions enacted following the acceleration of COVID-19 in March of 2020.

Net income for fiscal year 2020 totaled $48.5 million compared to $37.3 million in fiscal year 2019, an increase of 30.2%. The increase is primarily due to the increase in sales we experienced in 2020.

Fiscal 2020 Adjusted EBITDA (see reconciliation of Non-GAAP financial measures) increased 80.1% to $83.3 million, compared to $46.2 million in fiscal year 2019.

As of September 30, 2020, the Company’s cash and cash equivalents balance was $68.2 million, an increase of $56.7 million compared to $11.5 million as of September 30, 2019. The Company also had in excess of $40.0 million of availability on its revolving line of credit and floor plan credit facility as of September 30, 2020. Total inventory as of September 30, 2020 decreased to $150.1 million compared to $277.3 million on September 30, 2019, primarily due to the increased retail sales volume in the year and the lower level of manufacturer replenishments.

Fiscal Year
2021
Guidance

For fiscal full year 2021, OneWater anticipates same store sales to be up mid-single digits and Adjusted EBITDA to be up low- to mid-single digits, excluding acquisitions completed during the year.

Conference Call and Webcast

OneWater will host a conference call to discuss its fiscal fourth quarter and full-year 2020 earnings on Thursday, November 19, 2020 at 8:30 am Eastern time. The conference call may be accessed by dialing (866) 220-5793 in the U.S./Canada or (615) 622-8064 for participants outside the U.S./Canada using the Conference ID #5366308. This call is being webcast and can be accessed through the “Events” section of the Company’s website at https://investor.onewatermarine.com/ where it will be archived for one year.

About OneWater Marine Inc.

OneWater Marine Inc. is one of the largest and fastest-growing premium recreational boat retailers in the United States. OneWater operates 61 stores throughout 10 different states, seven of which are in the top twenty states for marine retail expenditures. OneWater offers a broad range of products and services and has diversified revenue streams, which include the sale of new and pre-owned boats, parts and accessories, finance and insurance products, maintenance and repair services and ancillary services such as boat storage.

Non-GAAP Financial Measures
and Key Performance Indicators

This press release and our related earnings call contain certain non-GAAP financial measures, including Adjusted EBITDA as a measure of our operating performance. Management believes these measures may be useful in performing meaningful comparisons of past and present operating results, to understand the performance of the Company’s ongoing operations and how management views the business. Reconciliations of reported GAAP measures to adjusted non-GAAP measures are included in the financial schedules contained in this press release. These measures, however, should not be construed as an alternative to any other measure of performance determined in accordance with GAAP. Because our non-GAAP financial measures may be defined differently by other companies, our definition of these non-GAAP financial measures may not be comparable to similarly titled measures of other companies, thereby diminishing its utility. We have not reconciled non‐GAAP forward-looking measures, including Adjusted EBITDA guidance, to their corresponding GAAP measures because certain items that impact these measures are unavailable or cannot be reasonably predicted without unreasonable efforts.

Adjusted EBITDA

We define Adjusted EBITDA as net income (loss) before interest expense – other, income taxes, depreciation and amortization and other (income) expense, further adjusted to eliminate the effects of items such as the change in the fair value of warrant liability, gain (loss) on contingent consideration, gain (loss) on extinguishment of debt and transaction costs. See reconciliation below.

Our board of directors, management team and lenders use Adjusted EBITDA to assess our financial performance because it allows them to compare our operating performance on a consistent basis across periods by removing the effects of our capital structure (such as varying levels of interest expense), asset base (such as depreciation and amortization) and other items (such as the fair value adjustment of the warrants, gain or loss on contingent consideration, gain or loss on extinguishment of debt and transaction costs) that impact the comparability of financial results from period to period. We present Adjusted EBITDA because we believe it provides useful information regarding the factors and trends affecting our business in addition to measures calculated under GAAP. Adjusted EBITDA is not a financial measure presented in accordance with GAAP. We believe that the presentation of this non-GAAP financial measure will provide useful information to investors and analysts in assessing our financial performance and results of operations across reporting periods by excluding items we do not believe are indicative of our core operating performance.

Same-Store Sales

We define same-store sales as sales from our stores excluding new and acquired stores. New and acquired stores become eligible for inclusion in the comparable store base at the end of the store’s thirteenth month of operations under our ownership and revenues are only included for identical months in the same-store base periods. Stores relocated within an existing market remain in the comparable store base for all periods. Additionally, amounts related to closed stores are excluded from each comparative base period. We use same-store sales to assess the organic growth of our revenue on a same-store basis. We believe that our assessment on a same-store basis represents an important indicator of comparative financial results and provides relevant information to assess our performance.

Cautionary Statement Concerning Forward-Looking Statements

This press release and statements made during the above referenced conference call may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including regarding our strategy, future operations, financial position, prospects, plans and objectives of management, growth rate and its expectations regarding future revenue, operating income or loss or earnings or loss per share. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “will be,” “will likely result,” “should,” “expects,” “plans,” “anticipates,” “could,” “would,” “foresees,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “outlook” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. These forward-looking statements are not guarantees of future performance, but are based on management’s current expectations, assumptions and beliefs concerning future developments and their potential effect on us, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Our expectations expressed or implied in these forward-looking statements may not turn out to be correct.

Important factors, some of which are beyond our control, that could cause actual results to differ materially from our historical results or those expressed or implied by these forward-looking statements include the following: changes in demand for our products and services, the seasonality and volatility of the boat industry, our acquisition strategies, the inability to comply with the financial and other covenants and metrics in our credit facilities, cash flow and access to capital, effects of the COVID-19 pandemic on the Company’s business, the timing of development expenditures, and other risks. More information on these risks and other potential factors that could affect our financial results is included in our filings with the Securities and Exchange Commission, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our Registration Statement on Form S-1 (File No. 333-248774), filed on September 14, 2020. Any forward-looking statement speaks only as of the date as of which such statement is made, and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise.

Investor or Media Contact:

Jack Ezzell
Chief Financial Officer
[email protected]

TORONTO, Nov. 19, 2020 (GLOBE NEWSWIRE) — Wallbridge Mining Company Limited (TSX:WM) (“Wallbridge” or the “Company”) is pleased to announce that assay results from the ongoing 100,000-metre 2020 drilling program on its 100%-owned Fenelon Gold Property (“Fenelon” or the “Property”) continue to establish the high-grade core of the Tabasco-Cayenne shear system with good gold grades over widths consistently measured in the tens of metres. This high-grade core forms a central portion of the larger shear corridor which has so far been drilled over a strike length of 800 metres and a vertical depth of 1,000 metres.

Fenelon Gold System In-fill
and Expansion
Drilling

The results from drill hole FA-20-181 reported today, fill in a large drilling gap in the core of the Tabasco-Cayenne zones and provide a strong, wide intersection with a much higher “metal factor” (grade multiplied by width = 510-gram metres of gold) than the nearest drill holes 40 to 60 metres away (see Figs. 1, 2 and 3):

“This intersection lines up well with the interpreted plunge of the high
–
metal factor domain and along with
similar
previous intersections, such as 4.84 g/t Au over 56.00 metres in FA-20-128 and 4.06 g/t Au over 51.70 metres in FA-20-134
.
W
e are beginning
to
outline a large area
of good
gold grade
s
over tens of metre
s of
true thickness
including
several higher grade shear zones
indicating
good optionality for future
underground
production scenarios
,
” stated Attila Péntek, Vice President Exploration of Wallbridge.

Before intercepting the Tabasco and Cayenne Zones the drill holes pass through the Area 51 vein network located immediately to the south of Tabasco-Cayenne. Highlight intersections from Area 51 veins in these holes are as follows:

In-fill and expansion drill results continue to define the Fenelon Gold System in preparation for a maiden resource estimate anticipated for the third quarter of 2021, whereas exploration results are demonstrating the connection of the Fenelon Gold System to the Sunday Lake Deformation Zone (Fig. 2).

Assay results of seven drill holes and wedge cuts of the Fenelon Gold System in-fill and expansion drilling are released today, representing a total of approximately 5,200 metres (Table 1).

Fenelon Exploration Drilling

Results of the initial exploration drill program testing the connection of the Fenelon Gold System to the Ripley-Reaper area and the Sunday Lake Deformation Zone are also released today, representing approximately 10,000 metres (Table 2).

Thus far, the initial 13 holes drilled, have demonstrated Area 51-style mineralization with visible gold-bearing quartz-sulfide veining hosted by the Jeremie Diorite and surrounding sedimentary rocks throughout the approximately 800 by 500 metre area tested and consist of wide, low-grade zones containing higher grade veins, such as 0.80 g/t Au over 22.90 metres (including 10.74 g/t Au over 0.75 metres and 16.74 g/t Au over 0.75 metres) in FA-20-183, 0.65 g/t Au over 25.50 metres and 2.64 g/t Au over 6.00 metres in FA-20-187 and 1.56 g/t Au over 8.65 metres in FA-20-172 (see Fig 2).

Further drilling, especially at greater depth and along strike is required to test for higher grade Area 51-style mineralization and the potential extension of Tabasco-Cayenne-style high-grade shear zones into this large area between the currently known footprint of the Fenelon Gold System and the Sunday Lake Deformation Zone.

2020
-2021
Drill
ing
Program
Update

To October 31, 2020, approximately 85,500 metres of the planned 100,000-metre 2020 drilling program have been completed at Fenelon. Currently, five of seven drill rigs are targeting the Fenelon Gold System (Tabasco-Cayenne-Area 51 mineralization), carrying out a combination of 50-100-metre step-outs and tighter-spaced in-fill drilling. Two drill rigs are actively exploring the connection of the Fenelon Gold System to the Ripley-Reaper area and the Sunday Lake Deformation Zone, as well as the extensions of the Tabasco-Cayenne corridor to the west.

Consideration has been given to increasing the scope and size of the 2020 and 2021 drilling programs to be able to fully assess the ultimate size potential of this rapidly growing gold system (see Wallbridge Press Release dated Oct 13, 2020). In 2021, the Company is planning to complete an approximately 150,000-metre drill program and working toward a maiden resource estimate at Fenelon, anticipated for the third quarter of 2021. Approximately 10-15% of the drilling program will be devoted to regional exploration on the Company’s district-scale, underexplored land package on the Detour-Fenelon Gold Trend.

Final assay results of 16 surface drill holes (FA-20-163, -164, -166-W1, -170, -172, -173, -174, -178, -179, -180, -182, -183, -184, -187, -189, and -194) and partial assay results of four surface drill holes (FA-20-176, -181, -184-W1 and -185) of the 2020 exploration drill program are reported in the Tables and s below. All figures and a table with drill hole information of recently completed holes are posted on the Company’s website under “Current Program” at https://www.wallbridgemining.com/s/fenelon.asp.

Figure
1
.
Fenelon Gold, Tabasco Long Section

https://www.globenewswire.com/NewsRoom/AttachmentNg/86ffef42-f63d-4bd6-a6cb-f58362c71d68

Figure
2
.
Fenelon Gold,
Plan View

https://www.globenewswire.com/NewsRoom/AttachmentNg/5867c589-a49d-4690-80d5-1d5f59ffbeff

Figure
3
.
Fenelon Gold, Cross Section
10050
_E

https://www.globenewswire.com/NewsRoom/AttachmentNg/43d64ebf-ff7e-4e5d-9330-bd6b4501ae9d

Figure
4
.
Fenelon Gold, Cross Section
10125
_E

https://www.globenewswire.com/NewsRoom/AttachmentNg/2d73597b-defd-4dbb-b9dd-42f1aba957cf

Figure
5
.
Fenelon Gold, Cross Section
10200
_E

https://www.globenewswire.com/NewsRoom/AttachmentNg/78e3443d-10b5-4876-9f7f-4b3dcf93228f

*Metal factor of at least 5 g/t*m and minimum weighted average composite grade of 1 g/t Au.
⁽¹⁾ Table includes only assay results received since the latest press release on Area 51 results dated Aug 13, 2020.
⁽²⁾ Au cut at 140 g/t.
⁽³⁾ Intervals containing visible gold (“VG”).

Note: True widths are estimated to be 50-80% of the reported core length intervals.

Assay QA/QC and Qualified Persons

Drill core samples from the ongoing drill program at Fenelon are cut and bagged either on site or by contractors and transported to either SGS Canada Inc. or ALS Canada Ltd. for analysis. Samples, along with standards, blanks and duplicates included for quality assurance and quality control, were prepared and analyzed at SGS Canada Inc. or ALS Canada Ltd. laboratories. Samples are crushed to 90% or 95% less than 2mm. A 1kg riffle split is pulverized to >95% passing 106 microns or 85% passing 75 microns. 50g samples are analyzed by fire assay and AAS. At SGS, samples >10g/t Au are automatically analyzed by fire assay with gravimetric finish or screen metallic analysis. To test for coarse free gold and for additional quality assurance and quality control, Wallbridge requests screen metallic analysis for samples containing visible gold. These and future assay results may vary from time to time due to re-analysis for quality assurance and quality control.

The Qualified Person responsible for the technical content of this press release is Evan Slater, P.Geo., M.Sc., Senior Project Geologist of Wallbridge.

About Wallbridge Mining

Wallbridge is currently advancing the exploration and development of its 100%-owned Fenelon Gold property, which is located along the Detour-Fenelon Gold Trend, an emerging gold belt in northwestern Québec. The Company is currently completing its 100,000-metre exploration drill program in 2020 and has plans for a fully-funded +150,000-metre drill program, as well as the commencement of a 10,000-metre underground development program in 2021.

The recent acquisition of Balmoral Resources has secured for Wallbridge a buffer of several kilometres surrounding its rapidly expanding Fenelon discovery providing room for growth, as well as future mine development flexibility. This acquisition has also significantly expanded Wallbridge’s land holdings in Québec along the Detour-Fenelon Gold Trend (from 10.5 km² to over 900.0 km²), improving Wallbridge’s potential for further discoveries for over 90-kilometre strike in this under-explored belt.

Wallbridge is also the operator of, and a shareholder in, Lonmin Canada Inc., a privately-held company with a large portfolio of nickel, copper, and platinum-group metals (PGM) projects in Ontario’s Sudbury Basin.

This news release has been authorized by the undersigned on behalf of Wallbridge Mining Company Limited.

For
f
urther
i
nformation please visit the Company’s website at www.wallbridgemining.com or contact:

Wallbridge Mining Company Limited

Marz Kord, P. Eng., M. Sc., MBA
President & CEO
Tel: (705) 682-9297 ext. 251
Email: [email protected]

Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Investor Relations Advisor
Email: [email protected]

This press release


may contain certain “forward-looking statements” within the meaning of applicable Canadian securities legislation relating to, among other things, the operations of Wallbridge Mining Company Limited (“Wallbridge” or “Company”) and the environment within which it operates. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding future plans and objectives of Wallbridge, future opportunities and anticipated goals, the company’s portfolio, treasury, management team, timetable to mineral resource estimation, permitting and the prospective


mineralization of the properties, are forward-looking statements that involve various risks, assumptions, estimates and uncertainties. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, “potential”, “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved”. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predicted outcomes could differ materially from those contained in such statements. These risks and uncertainties include, but are not limited to, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other required approval, the actual results of current exploration activities, fluctuations in prices of commodities, fluctuations in currency markets, actual results of additional exploration and development activities at the Company’s projects, capital expenditures, the availability of any additional capital required to advance projects, accide


nts, or pandemic interruptions.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These statements reflect the current internal projections, expectations or beliefs of the Company and are based on information currently available to the Company.

The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. The Company believe


s


that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this


press release


should not be unduly relied upon by invest


ors as actual results may vary.

Risks and uncertainties about Wallbridge’s business are more fully discussed in the disclosure material filed with the securities regulatory authorities in Canada and available on SEDAR under the Company’s profile at www.sedar.com. Readers are urged to read these materials and should not place undue reliance on the forward-looking statement


s contained in this press release


.

Covid-19 –


Given the rapidly evolving nature of the Coronavirus (COVID-19) pandemic, Wallbridge is actively monitoring the situation in order to continue to maintain as best as possible the activities while striving to protect the health of its personnel. Wallbridge’ activities will continue to align with the guidance provided by local, provincial and federal authorities in Canada. The company has established measures to continue normal activities while protecting the health of its employees and stakeholders. Depending on the evolution of the virus, measures may affect the regular operations of Wallbridge and the participation of staff members in events inside or outside Canada.

TORONTO, Nov. 19, 2020 (GLOBE NEWSWIRE) — In May 2020, Community Affordable Housing Solutions (CAHS) was incorporated as a federally registered not-for-profit corporation dedicated to creating new affordable housing options and innovative solutions. Today, in advance of National Housing Day (Nov. 22, 2020), the nonprofit is announcing that The Co-operative Housing Federation of Canada (CHF Canada) is joining CAHS to help diversify the organization’s affordable housing offerings. 

In 2019, St. Clare’s Multifaith Housing Society (St. Clare’s) and Habitat for Humanity GTA (Habitat GTA) negotiated a historic $17 million contribution seeded by Toronto developers to launch an affordable housing land trust. The trust was initially created through a collaboration between Toronto developers Capital Developments and Metropia, the City of Toronto, Habitat GTA, St. Clare’s, and community group Build a Better Bloor Dufferin, in order to deliver community benefit from the new 2,200 unit development planned at Bloor & Dufferin.

This joint venture partnership brings together organizations representing different community housing models working towards a common goal of increasing affordable housing supply. The three organizations (CHF Canada, Habitat GTA, and St. Clare’s) will be permanent members of CAHS and have each appointed three representatives to the board of directors, who will steward the creation of a variety of strategic affordable housing initiatives.

“Since the land trust is focused on delivering more new affordable housing through innovative solutions, we are excited to bring co-op housing into the mix,” said Joshua Benard, Board Member, CAHS and VP, Real Estate Development, Habitat for Humanity GTA. “We are proud to welcome CHF Canada to CAHS so we can help more residents through a broad range of affordable housing options.”  

“CHF Canada is excited to be a part of this promising initiative,” said Tom Clement, Board Member, CAHS and Executive Director, Co-operative Housing Federation of Toronto. “Co-operative housing is a proven and popular form of affordable housing. Co-operative housing also has a long history with land trusts and has grown in recent years thanks to their innovative work.”

“As the City’s Housing Advocate and Chair of the Planning and Housing Committee, as well as the City Councillor for the area where this land trust has been created, I am pleased to see the Co-operative Housing Federation of Canada join as a partner,” said Ana Bailão, Deputy Mayor and Councillor for Ward 9, Davenport. “I have always maintained that we need to work together if we are to deliver the affordable housing we need and the land trust is an excellent example of this cooperation at work.” 

About Community Affordable Housing Solutions:

Community Affordable Housing Solutions (CAHS) is an expansion driven not-for-profit with the goal of creating a broad range of affordable housing options for Canadians. A partnership among Habitat for Humanity Greater Toronto Area, St. Clare’s Multifaith Housing Society, and the Co-operative Housing Federation of Canada, its founding members have over 100 years of combined experience in the affordable housing sector. To learn more, visit http://cahsolutions.ca/

All financial figures are in Canadian dollars. 

CALGARY, Alberta, Nov. 19, 2020 (GLOBE NEWSWIRE) — Petro-Canada, a Suncor business, today announced the creation of the Petro-Canada CareMakers Foundation, which will support family caregivers across Canada. Through the CareMakers Foundation, Suncor plans to invest $10 million over the next five years to bring awareness and support to the essential work of caregivers, a group that according to Statistics Canada includes more than 8 million Canadians.

The CareMakers Foundation will provide grants to charitable organizations in Canada that support family caregiving, to enhance and amplify their work. The first recipients of the CareMakers Foundation include: Baycrest Foundation, Circle of Care: Mount Sinai Hospital, BC Neighbourhood Houses, and Community Care City of Kawartha Lakes.

At some point in their lives, more than half of Canadians provide unpaid care to a family member or friend with a long-term health condition, physical or mental disability, or age-related need. These caregivers play an integral role in supporting relatives, friends and neighbours, and they often go unrecognized and unsupported.

“Caring for those who care for others is a natural fit for us. It is core to Suncor’s purpose, and through our Petro-Canada associates and marketers it’s also how we Live By The Leaf every day,” said Mark Little, Suncor president and chief executive officer. “Caregiving is personal for us. The work supported by the Petro-Canada CareMakers Foundation will positively impact our employees, our customers and Canadians from coast to coast to coast.”

Caregivers provide roughly 75 per cent of all patient care in Canada. Among other things, family caregivers provide transportation, meal preparation and housekeeping. They schedule appointments, help with medications and provide emotional support. “Caregivers are the backbone of our communities, and the pandemic has in many ways exacerbated the issues that family caregivers face,” said Little. “We know this issue is largely unseen, and through our more than 1,850 retail and wholesale locations we have the unique ability to shine a light on caregiving at a time when caring is more essential than it has ever been.”

For many, caring is more than a simple act of kindness; it’s an everyday commitment and an unspoken promise. Working with other organizations in the sector, the CareMakers Foundation will focus on providing tools and resources that can help support family caregivers in Canada.

Quotes:

“Caregivers are often forgotten about. We’re in home, we’re providing care.” – Kevin, Suncor employee and family caregiver

“Caregivers are folks who give without keeping score, who ask for nothing in return.” – Maxim, Petro-Canada Associate, Montreal

“Being a family caregiver is such an all-encompassing and overwhelming role, yet it is largely a silent and unseen one. We need to care for and support our family caregivers and acknowledge the sacrifice and devotion involved in caring for others. At one point or another, we will all either be a caregiver or need a caregiver, and it is our duty to care for one another” – Dr. Adriana Shnall PhD, MSW, RSW, Program Director, Baycrest@Home, Clinical Programs & Koschitzky Centre for Innovations in Family Caregiving

“We believe that every family caregiver should feel cared for. The space of caregiving is complex and in need of support and transformation. By creating the Petro-Canada CareMakers Foundation, we will have an opportunity to tangibly benefit charitable organizations throughout Canada who are working actively to support family caregivers,” Leila Fenc, executive director, Petro-Canada CareMakers Foundation

Caregiving Statistics*:

Caregiving is an issue that affects all Canadians. Our society simply would not function without caregivers.

• 8.1 million Canadians are carers (1 in 4). They provide roughly three quarters of all patient care.
• 72% of caregivers provide emotional support. 68% provide transportation. 59% are also involved in activities around the home and 52% schedule appointments.
• On average, caregivers devote 19 hours a week to caregiving duties.
• 1 in 10 unpaid caregivers support loved ones for more than 30 hours a week.
• 43% of caregivers reported missing work, 15% cut down their hours, and 10% passed up a promotion or new job.

*Statistics provided by


Statistics Canada

Suncor Energy is Canada’s leading integrated energy company. Suncor’s operations include oil sands development and upgrading, offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand. A member of Dow Jones Sustainability indexes, FTSE4Good and CDP, Suncor is working to responsibly develop petroleum resources while also growing a renewable energy portfolio. Suncor is listed on the UN Global Compact 100 stock index. Suncor’s common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.

Petro-Canada, a Suncor business, operates more than 1,500 retail stations and 300 Petro-Pass wholesale locations nationwide, including 56 marketing arrangements with Indigenous communities. In 2019, Petro-Canada opened Canada’s Electric Highway

^TM

, a coast to coast network of electric vehicle chargers. Petro-Canada’s retail loyalty program, Petro-Points™, provides Canadians with the opportunity to earn and redeem rewards.


Petro-Canada is proud to be a National Partner of the Canadian Olympic and Paralympic committees, supporting Canadian athletes, coaches and their families for more than 25 years. The Petro-Canada CareMakers Foundation

^TM

will help to support Canadian caregivers.

For more information about Suncor, visit our web site at suncor.com, follow us on Twitter @Suncor.

For more information about Petro-Canada, visit our web site at petro-canada.ca, follow us on Facebook or PumpTalk. For more information about the Petro-Canada CareMakers Foundation, visit our web site at caremakers.ca

Media inquiries:
833-296-4570
[email protected] 

A photo and a video accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/f3b3150f-8a33-449a-acf7-c6d66e42baa2

https://www.globenewswire.com/NewsRoom/AttachmentNg/85000364-8e39-4d9b-816b-cd721a73c18f