CALGARY, May 9, 2012 /CNW/ - Nexen Inc. announced it is providing $450,000 to help pay down The Drop-In & Rehabilitation Centre's (The DI) mortgage on the Sundial facility. This donation is in addition to the $300,000 Nexen announced in July 2011 and brings the company's total support to $750,000. The announcement was made today at a community event to raise awareness about financial support needed to eliminate the Sundial's mortgage.
"The Sundial is an important facility in our city as it provides low-income individuals with a place to call their own. It offers them a chance at independent living and stability so they can focus on their future. And it's right in Nexen's backyard," says Kevin Reinhart, Interim President and CEO. "For us, it's about being a good neighbor and Nexen's additional contribution will help The Drop-In Centre get one step closer to being mortgage free."
The DI purchased the Sundial in 2009 in an effort to help break the cycle of poverty and open doors to a better future. The Sundial includes 119 affordable housing units - 81 one-bedroom and 38 two-bedroom units - for low income Calgarians. More than $15.25 million has been raised to date through provincial funding, proceeds from a DI asset sale, and donations from Nexen, Enbridge, RBC Foundation, Canadian Oilsands, Boardwalk Trust, Mother Teresa Endowment Fund, Newalta Corp, Trimac, Canadian Western Bank and others. This leaves a $3.25 million mortgage remaining on the Sundial. Eliminating the mortgage will enable The DI to fund various services and counseling that enables independent living.
Nexen is reaching out to help build sustainable communities wherever it operates. Through a community involvement strategy called ReachOut, the company contributed $11.3 million to communities, local programs, the arts and scholarships in 2011. These investments included giving financial contributions directly to organizations; matching employee and contractor contributions; and helping by support employees' volunteer efforts.
For further information:
Manager, External Communications
801 - 7th Ave SW, Calgary, Alberta, Canada T2P 3P7 www.nexeninc.com