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, Dec. 13, 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. Top 10 Safest and Most Dangerous Cities to Drive in Ontario in 2024 
   According to the Ontario Provincial Police, there were more car collision-related deaths on Ontario highways in 2023 than in any year since 2007, making it the deadliest year in over 15 years. In light of this sobering statistic, MyChoice, a leading insurtech company in Canada, conducted a comprehensive study to rank the province's safest and most dangerous cities to drive in. The study employed a detailed methodology based on the weighted averages of accidents and infractions (i.e. distracted driving, speeding) with a 70/30 importance ratio, creating a comprehensive scoring system from 0 to 5.
2. Kevin O'Leary in cooperation with the Municipal District of Greenview to develop the world's largest AI Data Centre Industrial Park 'Wonder Valley' in the Greenview Industrial Gateway ("GIG") near Grande Prairie in North West Alberta, Canada 
   The Municipal District of Greenview is proud to announce a groundbreaking partnership with O'Leary Ventures to build an off-grid natural gas and geothermal power infrastructure to support the largest AI data centre industrial park in the world. The GIG has signed a Letter of Intent with O'Leary Ventures for the purchase and development of thousands of acres of land within the Greenview Industrial Gateway and to the south of the GIG. This transformative project is both a monumental achievement for Greenview and a pivotal moment for Alberta, Canada, and North America in terms of global business investment.
3. ELNA Medical Group seeks Court protection to emerge as a resilient and thriving business 
   ELNA Medical Group (the "Company" or "ELNA") announced today that it has brought an application before the Québec Superior Court (Commercial Division) (the "Court") to seek protection under the Companies' Creditors Arrangement Act ("CCAA") for the majority of its entities. Notwithstanding the Company's significant growth and cost optimization measures taken in recent years, ELNA is facing financial pressures and has no alternative but to initiate restructuring proceedings to initiate a formal sale and investment solicitations process ("SISP") with a view to emerging as a resilient a thriving business for the long term.
4. CIBC lowers prime lending rate
   CIBC (TSX: CM) (NYSE: CM) today announced that it is lowering its Canadian prime lending rate by 50 basis points from 5.95 per cent to 5.45 per cent, effective Thursday, December 12, 2024. CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at https://www.cibc.com/en/about-cibc/media-centre.html.
5. Freehold Royalties Announces Strategic Midland Basin Royalty Acquisition and Bought Deal Equity Financing
   "This acquisition is a successful reflection of our disciplined approach to strategic M&A, in an area we know well and further builds on the two core Midland Basin acquisitions we closed earlier this year. This fits precisely with our strategy of positioning our royalty portfolio in areas with best-in-class oil weighted reservoirs that have significant development runway under high quality operators. This transaction expands our footprint, right in the heart of the Midland Basin under ExxonMobil and Diamondback, two operators who recently completed a combined ~US$90 billion of acquisitions to increase their stakes in this extensive resource play" said David Spyker, Freehold's President and Chief Executive Officer.
6. CWB to reschedule fourth quarter and fiscal 2024 results release 
   CWB Financial Group (TSX: CWB) ("CWB") today announced that the release of its fourth quarter and fiscal 2024 financial results will be rescheduled. CWB deferred the release of its results from the originally planned date of December 6, 2024. CWB expects to issue the results by mid-December 2024. CWB's conference call to review the fourth quarter and fiscal 2024 financial results will be rescheduled to follow the release of the results.
7. CWB Provides Update on its Previous Announcement that the Release of its Q4 and Fiscal 2024 Results were Rescheduled 
   The decision was triggered by our receipt of a legal claim against CWB Maxium Financial Ltd. (Maxium), a wholly owned subsidiary of CWB, very late in our process to approve and disclose our annual financial results that by its nature required prudent investigation. The self-represented claimant seeks damages in the amount of $18 Million, as well as general and punitive damages, and costs, related to the provision of certain loans to corporations affiliated with the claimant and the resolution of these loans, which is occurring through a court-approved receivership process.
8. ELNA Medical Group obtains Creditor protection under the CCAA to pursue restructuring and commence Court-approved Sale and/or Investment Solicitation Process 
   ELNA Medical Group (the "Company" or "ELNA") announced today that the Québec Superior Court (Commercial Division) (the "Court") has granted the Company's application for an initial order (the "Initial Order") under the Companies' Creditors Arrangement Act ("CCAA"). The Initial Order appointed Raymond Chabot Inc. as monitor (the "Monitor") and authorized debtor-in-possession financing provided by the National Bank of Canada to allow the Company to provide the stability required to continue its operations, while pursuing its restructuring efforts under the CCAA proceedings.
9. Keurig Dr Pepper Canada Expands Beverage Portfolio with Exclusive Nestea Licensing Agreement 
   Canada Dry Mott's Inc., doing business as Keurig Dr Pepper Canada ("KDP Canada"), has entered into a long-term licensing agreement with Société des Produits Nestlé ("Nestlé Canada"), to manage the manufacturing, marketing, sales, distribution, and merchandizing of the ready-to-drink product range of the iconic Nestea brand across Canada, effective January 1, 2025. This collaboration propels KDP Canada to a leadership position in the iced tea category, integrating the country's top-selling brand in that segment into its diverse portfolio.
10. Four Seasons Announces Arrival to Puerto Rico in Partnership with Paulson Group 
    Four Seasons and Paulson Puerto Rico announce plans for the leading hospitality and branded residential company to assume management of a resort and residences in Bahia Beach, Rio Grande. The opening will mark the entry of Four Seasons to Puerto Rico and the continued expansion of the renowned luxury brand in the Caribbean. Nestled within 483 acres (195 hectares) of lush landscaping along Bahia Beach, the property is seamlessly integrated with its natural surroundings, allowing guests and residents to immerse themselves in the beauty of Puerto Rico. The local surroundings will continue to be preserved, with interiors undergoing renovations before unveiling as Four Seasons Resort Puerto Rico in late 2025.

Read more of the latest releases from Cision, see our resources for journalists, and stay caught up on the top press releases by following @cnwnews.

About Cision Canada

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SOURCE Cision Canada

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