The Week in Canadian Press Releases: 10 Stories You Need to See

A roundup of the most newsworthy press releases from Cision Distribution this week

TORONTO, May 31, 2024 /CNW/ - With thousands of press releases published each week, it can be difficult to keep up with everything on Cision. To help journalists and consumers stay on top of the week's most newsworthy and popular releases, here's a recap of some major stories from the week that shouldn't be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

Cision Canada - The Weekly Round-Up (PRNewsfoto/Cision Canada)

1. KPMG in Canada names Benjie Thomas as the firm's next CEO 
   KPMG in Canada is pleased to announce that Benjie Thomas has been selected as its next CEO effective October 1, 2024. He will succeed Elio Luongo who is completing two consecutive terms on September 30, 2024. "I am honoured to serve as the next CEO of KPMG in Canada, a firm with a history of over 150 years in this country, who welcomed me as a student over two decades ago and provided me with a diverse set of experiences that prepared me for this rare privilege and responsibility," says Mr. Thomas. "Like many Canadians, I'm the child of proud immigrants who, through example, instilled education, work ethic, resilience, entrepreneurship, community and most importantly a deep sense of family and faith. These are the values that will guide my leadership.
2. BCACC looks forward to legislative regulation of the psychotherapy profession 
   The BC Association of Clinical Counsellors (BCACC) is pleased that the legislative regulation of Psychotherapy under the Health Professions Act and eventually under the new Health Professions & Occupations Act is moving forward, as indicated in the BC Government's May 24, 2024 news release. On October 19, 2022, the Ministry of Health, led by Adrian Dix, indicated their intention to regulate clinical counselling under the new Health Professions & Occupations Act (HPOA). A decision that was applauded by the BCACC. With more than 85% of practitioners in BC having a masters' level education and a Registered Clinical Counsellor (RCC) designation from the BCACC, the BCACC supports the need for legislative regulation and its potential to lower accessibility barriers and enhance public protection. In British Columbia the terms "Clinical Counselling" and "Psychotherapy" are used interchangeably. 
3. CIZZLE BRANDS LTD. PARTNERS WITH ALL-STAR ATHLETES NATHAN MACKINNON, ANDREW WIGGINS AND ADRIANA LEON TO LAUNCH CWENCH HYDRATION, THE NEXT GENERATION SPORTS HYDRATION DRINK 
   Made with all-natural ingredients and featuring seven performing electrolytes, CWENCH contains no sugar and has less than 10 calories per serving. CWENCH is currently available in four flavours: Blue Raspberry, Berry Crush, Rainbow Swirl and Cherry Lime. "CWENCH Hydration is the result of extensive collaboration amongst world-class athletes, elite trainers and our Cizzle Brands team,"  said John Celenza, Cizzle Brands' Founder and CEO. "When we approached Andy to develop CWENCH, we gave him an open canvas to create something that not only truly aids in hydrating your body for better performance, but is also something we feel good giving to our families." Prior to founding Cizzle Brands, Celenza was a co-founder of BioSteel Sports Nutrition Inc. and sold a majority stake in the company in 2019 for an effective $80 million valuation.
4. CIB invests $337 million towards hydrogen production and refuelling network in Western Canada 
   The CIB's $337 million loan will expedite and expand HTEC's operations in British Columbia and Alberta. The investment will contribute to the implementation of HTEC's full-service, sustainable fuel supply chain focused on reducing emissions in the transportation sector, called H2 Gateway. HTEC plans to build and operate an interprovincial network of up to 20 hydrogen refuelling stations to support the deployment of fuel cell vehicles and advance greener transportation solutions. The refuelling stations will be supported by three new hydrogen production facilities located in Burnaby, Nanaimo and Prince George, and a facility that liquefies 15 tonnes per day of vented by-product hydrogen in North Vancouver. It is estimated that more than 280 full-time jobs will be created to build, operate and support the hydrogen infrastructure.
5. ROYAL BANK OF CANADA REPORTS SECOND QUARTER 2024 RESULTS
   Royal Bank of Canada¹¹ (TSX: RY) (NYSE: RY) today reported net income of $4.0 billion for the quarter ended April 30, 2024, up $270 million or 7% from the prior year. Diluted EPS was $2.74, up 5% over the same period. Record earnings in Capital Markets as well as higher results in Personal & Commercial Banking, Wealth Management and Insurance were partially offset by lower results in Corporate Support. Adjusted net income⁷ and adjusted diluted EPS⁷ of $4.2 billion and $2.92 were up 11% and 9%, respectively, from the prior year. On March 28, 2024, we completed the acquisition of HSBC Bank Canada (HSBC Canada). The inclusion of HSBC Canada results¹² decreased net income by $51 million, reflecting $200 million ($145 million after-tax) of initial PCL on purchased performing financial assets.
6. CIBC Announces Second Quarter 2024 Results 
   CIBC (TSX: CM) (NYSE: CM) today announced its financial results for the second quarter ended April 30, 2024. "In the second quarter, the steady execution of our client-focused strategy across our well-diversified North American platform continued to deliver solid results and create value for our stakeholders," said Victor G. Dodig, CIBC President and Chief Executive Officer. "Our team's ability to attract and deepen client relationships across our bank, including in high growth segments and markets is supporting our momentum. Combined with expense discipline, our robust capital position and disciplined risk management, as well as our ongoing strategic investments, we remain well positioned to navigate the current operating environment and position our bank for the future."
7. Amplitude Ventures Closes $263 Million Precision Medicine Venture Fund
   Amplitude Ventures, a full-stack venture capital firm focused on investing in precision medicine at the intersection of biology and AI, today announced the close of its $263 million (US$192 million) Fund II. The new fund substantially exceeds the size of Amplitude's inaugural fund and enables the firm to continue to invest with entrepreneurs and innovators who are building new precision medicine companies that are driving meaningful outcomes in human health. With its focus on creating and building companies, Amplitude has been supporting entrepreneurs and innovators since 2019 and counts Repare Therapeutics (NASDAQ: RPTX), Abdera, Congruence, Radiant and Valence (acquired by Recursion) among its most notable Fund I investments. The firm's second fund will amplify its ability to launch and build groundbreaking innovative concepts.
8. Prepare your Cravings, Regina: Taco Bell Canada Rings its Bell with NEW Grand Opening 
   Taco Bell Canada and Redberry Restaurants ("Redberry"), a leading franchisee in the food and beverage industry, is bringing Mexican-inspired fare to Canada's Queen City with the grand opening of its new location at 4440 Albert Street, Regina. This spring, residents can enjoy fresh, delicious and customizable menu items, including new, limited time offers, fan favourites like the Crunchwrap Supreme, and more! Redberry continues to grow its footprint across Western Canada with 200 new store openings projected over the next 10 years. The franchise recently acquired two Taco Bell locations in Saskatoon, marking its official foray into the province, and has since introduced a new management team, installed Drive Thru digital menu boards and made in-store updates, providing a convenient and enjoyable experience for fans.
9. Tribe Property Technologies to Acquire Toronto-Based DMSI Holdings and Announces Private Placement Led by PROPELR Growth Fund 
   Joseph Nakhla, CEO of Tribe, commented on the acquisition, "We are excited to announce the acquisition of three remarkable companies, each contributing a unique and distinct portfolio to our rental management division. With profitable and robust recurring business, the synergies created by these additions will undoubtedly elevate our presence in rental management and set up Tribe for significant growth and innovation. We are expecting to have over $31 million in annualized revenue run-rate upon closing of this acquisition, expanding the Company's footprint in residential rental and commercial property management and positioning us as one of the largest property management companies in the country. We are also thrilled that the leadership of these companies will remain intact ensuring continuity and stability."
10. Calgary's new hospitality frontier: PBA Group of Companies begins construction on Element Hotel by the Westin through office conversion project 
    PBA Group of Companies (PBA) and its partner Concord Hospitality have officially started converting the former 12-storey office building, Canadian Centre (833 4th Ave. SW) into an Element Hotel by Westin. PBA saw an opportunity to satisfy the growing demand for additional room capacity in Downtown Calgary and to drive economic impact. As a 226-suite hotel, with fully furnished extended stay units, and a sophisticated design aesthetic, the Element Hotel will offer guests a warm and hospitable experience infused with cultural touches and elevated details. "We're honoured to help take one of the first steps in transforming our downtown into a differentiated residential and recreational district that serves as a symbol of progressive inner city planning with this conversion," says James Scott, Senior Vice President, Planning and Development, PBA Group of Companies.

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SOURCE Cision Canada

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