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Loblaw Companies Limited Announces Normal Course Issuer Bid

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Loblaw Companies Limited (Loblaw) announced today that the Toronto Stock Exchange (TSX) has accepted a notice filed by Loblaw of its intention to make a normal course issuer bid (NCIB).

The TSX notice provides that Loblaw may, during the 12-month period commencing May 5, 2022 and terminating May 4, 2023, purchase up to 16,647,384 of Loblaw’s common shares (Common Shares), representing approximately 5% of the issued and outstanding Common Shares, by way of a NCIB on the TSX or through alternative trading systems or by such other means as may be permitted by the TSX or under applicable law. As of April 21, 2022, Loblaw had 332,947,684 outstanding Common Shares. Based on the average daily trading volume of 503,409 during the last six months, daily purchases will be limited to 125,852 Common Shares, other than block purchase exceptions and purchases from George Weston Limited (GWL), Loblaw’s majority shareholder.

Loblaw will be permitted to purchase its Common Shares from GWL in accordance with an exemption granted by the TSX pursuant to its rules, regulations and policies in connection with the NCIB in order for GWL to maintain its proportionate percentage ownership, which is consistent with the exemption granted by the TSX in each of 2020 and 2021. The maximum number of Common Shares that may be purchased pursuant to the NCIB will be reduced by the number of Common Shares purchased by Loblaw from GWL.

Purchases of Common Shares will be made in open market transactions on the TSX or through alternative trading systems. In addition, Loblaw may enter into forwarding purchase or swap contracts in connection with Common Shares which may be settled by physical settlement, cash settlement or a combination thereof. The forward price will be based on market price, dividend yield and market interest rates. Loblaw may also purchase Common Shares through private agreements or share repurchase programs if it receives an issuer bid exemption order permitting it to make such purchases. Any purchases of Common Shares made by way of private agreements or under share repurchase programs may be at a discount to the prevailing market price as provided in the relevant issuer bid exemption order.

Purchases from GWL will be made during the TSX’s Special Trading Session pursuant to an automatic disposition plan agreement between Loblaw’s broker, Loblaw and GWL (ADP Agreement). Purchases from GWL will be made on trading days, as required by the ADP Agreement, that Loblaw makes a purchase from other shareholders. In the event that GWL does not sell Common Shares on any trading day as required by the terms of the ADP Agreement (other than as a result of a market disruption event), the TSX exemption will cease to apply and Loblaw will not be permitted to make any further purchases from GWL under the terms of the NCIB.

Decisions regarding the timing of future purchases of Common Shares will be based on market conditions, share price and other factors. Loblaw may elect to suspend or discontinue its NCIB at any time. Common Shares purchased under the NCIB will be cancelled or used in connection with the settlement of restricted share units or performance share units. Loblaw believes that the market price of Common Shares could be such that their purchase may be an attractive and appropriate use of corporate funds. Loblaw may also use its NCIB to acquire the number of Common Shares that are issued pursuant to the exercise of options in order to offset the dilutive effect of options that have been exercised.  Under its prior NCIB that commenced on May 3, 2021, and expired on May 2, 2022, Loblaw had sought and received approval from the TSX to purchase up to 17,106,459 Common Shares. As of April 21, 2022, Loblaw has purchased 11,931,967 Common Shares under its prior NCIB through open market purchases on the TSX and exempt private agreement purchases, at a weighted average price of $85.98.

From time to time, when Loblaw does not possess material non-public information about itself or its securities, it may enter into a pre-defined plan with its broker to allow for the purchase of Common Shares at times when Loblaw ordinarily would not be active in the market due to its own internal trading blackout periods and insider trading rules. Any such plans entered into with Loblaw’s broker will be adopted in accordance with the requirements of applicable Canadian securities laws.

Sobeys Inc. Announces Early Redemption of Notes

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Empire Company Limited (Empire) (TSX: EMP.A) announced today that Sobeys Inc., a wholly-owned subsidiary of Empire, is delivering a notice of redemption (the “Notice”) to holders of all its outstanding 4.70% Series 2013-2 Notes due August 2023 (the “Notes”).
The Notice calls for the redemption of the remaining $500 million aggregate principal amount of Notes on June 2, 2022. Upon redemption, each Noteholder will receive $1,018.400 for each $1,000 principal amount of Notes held, plus accrued and unpaid interest amount to the redemption date of $14.679 per $1,000 principal amount of Notes, for an aggregate of $1,033.079 for each $1,000 principal amount of Notes. The early redemption premium of $9.2 million before tax will be charged to earnings in the fourth quarter of fiscal 2022.

Additional information concerning the terms and conditions of the redemption is provided in the Notice. Beneficial holders with any questions about the redemption should contact their respective brokerage firm or financial institution.

This press release is for informational purposes only and shall not constitute an offer to repurchase the Notes or any other securities.

Small business owners nearing a breaking point while struggling to support their employees’ mental health issues

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After two years of rolling lockdowns and business restrictions, the pandemic has had a significant impact on small business owners. Half (50%) report difficulty coping with mental health challenges, according to a new report, Near the Breaking Point: Mental Health in Small Business, by the Canadian Federation of Independent Business (CFIB) and Nexim Canada (PrimaSure).
These results shed light on the reality of small business owners’ pressures during the pandemic, including managing their employees’ mental health needs, staffing issues, reduced consumer spending, paying bills, growing debt and other worries.
“Owning and operating a business can be a very challenging and exhausting job. Business owners who are still struggling to reopen fully or return to normal revenues tend to be closest to burning out,” said Corinne Pohlmann, Senior Vice-President of National Affairs at CFIB. “In addition, business owners are struggling to take care of themselves while looking after their staff. There are limited mental health and wellness programs and initiatives aimed at smaller businesses, making it harder for them to access resources that might help.”
CFIB’s results show two-thirds (66%) of small business owners are close to burning out. But it is not just employers who are reeling from the pandemic.
Mental health concerns have also increased for employees over the course of the pandemic, with more employers aware that some of their employees are facing mental health issues in 2022 than in 2020 (54% and 35%, respectively).
Research shows there are fewer business owners accessing mental health information than dealing with mental health concerns in the workplace, as only one in three (37%) business owners are accessing mental health information for their employees and even fewer (27%) are seeking this support for themselves.
“The stress and struggles of the pandemic have hurt business owners’ capacity to take on those support roles for their employees,” Pohlmann added. “Small businesses don’t have dedicated human resources support and, when the owner is already under an extreme amount of stress themselves, it is not surprising that they feel less prepared to support their employees’ mental health.”
There is no one-size-fits-all solution to addressing mental health issues in the workplace, but here are some recommendations and strategies business owners and employees can follow:
• Having an open dialogue within workplaces around mental health, getting to know one’s colleagues, and proactively seeking treatment.
• Considering cost-effective initiatives and supports that can be easily implemented when needed to support a positive workplace or a coworker struggling.
• Setting a good example of work/life boundaries that fit the business’s needs.
• CFIB is recommending all levels of governments and the mental health sector work together to support small businesses that want to strengthen and improve mental health conditions in their workplaces. CFIB provides its members with some tools and resources to support mental health in the workplace, including templates for a wellness policy and respectful workplace guidelines, and is excited to be working with Nexim Canada (PrimaSure) to develop a new online Wellness Hub to connect small business owners with these kinds of resources and information.”Over recent years, disability incidence has increased dramatically, with mental health issues being the strongest driver of the increase. This trend has continued throughout the pandemic with new pressures becoming the catalyst for these mental health issues. In an effort to raise awareness, and put focus on an integral and essential component of health, we are proud to sponsor the CFIB mental health initiative,” said Briana Desormeau, Vice-President, Nexim Canada.

CFIB looks to the government and the mental health sector to share their expertise by:
• Evaluating existing programs to improve education, raise awareness, develop evidence-based resources, and provide training for a more positive impact on workplaces.
• Reducing red tape and paperwork burden involved in accessing mental health support to enable timely access and reducing wait times.
• Improving access to online resources and tools targeted specifically for small businesses
“Although small businesses may not always have the same resources as larger companies, working for a small firm has its own advantages. Being a part of a close-knit team allows small business owners to be more comfortable discussing mental health issues in the workplace,” Pohlmann concluded. “Giving them the tools to do that effectively can make it easier for owners to support themselves and their employees.”

Natural Grocer ‘The Sweet Potato’ Opening 2nd Toronto Storefront with Plans for Expansion

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The Sweet Potato, a neighbourhood natural grocer stocking local and organic produce, meat and dairy, plus gluten-free items, will be expanding this year into its second location as the anchor retail tenant at Toronto’s newest luxury apartment rental community, The Stack.

Midori Miyamoto, Marketing Manager for the grocer, said there is no firm date for the opening of the new location but it likely would be by November of this year.

The Sweet Potato has been at its current Vine Avenue location for about five years in about 10,000 square feet of space. Its second location at 730 Hillsdale Avenue East at Bayview will be about 16,000 square feet.

“We’re a local, independent, owner, natural and organic food store,“ said Miyamoto. “We’re a community-based business.”

She said the company’s focus on local produce and locally-grown foods is a good match for the neighbourhood, which is underserved in that area and has a sophisticated palate.

Ali Fieder and Calvin Holland of Avison Young are representing The Sweet Potato in its Canadian expansion and negotiated the lease deal for the retailer. The team at DWSV Realty negotiated the Bayview lease deal on behalf of the landlord.

The Sweet Potato began about 15 years ago as a small organic weekend market in High Park, in the west end of downtown Toronto. It then moved into its first location of about 3,000 square feet but years later moved the operation into its current 10,000-square-foot space on Vine Avenue in The Junction.

Instacart Now Partners With Canada’s Top Five Grocers, Adds Ten New Retailers

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The company announced partnerships with more than ten new retailers to make same-day delivery more accessible countrywide, including retailers such as food and pharmacy leader Metro Inc., discount retailer Giant Tiger, specialty grocer Galleria Supermarket and more. Following its launch with Metro, Instacart now partners with the top five grocers across Canada, including Costco, Loblaws and Walmart. Same-day delivery via Instacart is available to approximately 90% of Canadian households and all 10 provinces.

“At Instacart, we’re proud to deepen our presence across Canada and serve as a retail enablement platform for key retailers countrywide, from the largest grocers to small businesses and local favourites,” said Chris Rogers, Vice President of Retail at Instacart. “We know that the demand for same-day delivery of groceries and essential goods is ubiquitous across Canada and we’re committed to creating more ways for Canadians to connect with retailers of all sizes. We’ll continue to increase our footprint across Canada and create the best online grocery shopping experience possible for both our retail partners and customers.”

Customers in Ontario can now shop from Metro’s wide selection of more than 26,000 grocery and pharmacy items to be delivered from the store to their door in as fast as one hour. In addition, customers can now order same-day delivery from discount retailer Giant Tiger, specialty grocer Galleria Supermarket, pet supplies retailer Menagerie Pet Shop, sports nutrition retailers Popeye’s Supplements and Healthy Planet, local favourites Dolce & Gourmondo, Nature’s Emporium, Super Natural Market, Grande Cheese Markets, and more. Discount retailer Dollarama, arts and crafts retailer Michaels and office supplies retailer Staples are now expanding their partnership with Instacart to offer same-day delivery countrywide.

“To better support our customers and access the rapidly growing market of same-day grocery delivery, we are thrilled to announce our partnership with Instacart to make it even easier for Canadians to shop smart and save smart every day,” said Simon Rodrigue, Senior Vice President & Chief Digital Officer, Giant Tiger Stores Limited. “This service is an excellent advantage to our loyal customers and now more than 180 Giant Tiger stores will have access to our products for same-day delivery. This partnership will help more Canadians to experience Giant Tiger’s fun and easy shopping experience and solidify our position as Canada’s favourite discount retailer.”

“We applaud Instacart’s work with Canadian retailers, particularly the small businesses that are the backbone of the Canadian economy,” said Barry Lanteigne, President at Distribution Canada Inc. “As independent grocers continue to evolve their omnichannel strategies, we look forward to continuing our work with Instacart to bring independent grocers across Canada online.”

Whole Foods to Close six stores in United State

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A Whole Foods spokesperson confirmed that the company will be closing six stores nationwide, in Massachusetts, Alabama, California, and Illinois. Whole Foods Market chain has over 530 stores in the United States.
The company was not specific about closing dates, saying the stores will close in the coming months.

“As we continue to position Whole Foods Market for long-term success, we regularly evaluate the performance and growth potential of each of our stores, and we have made the difficult decision to close six stores. We are supporting impacted Team Members through this transition and expect that all interested, eligible Team Members will find positions at our other locations,” a Whole Foods spokesperson said last week.

Gold’s Gym names fitness superstar Simeon Panda global brand ambassador

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Gold’s Gym, the most iconic name in fitness, has named bodybuilder and fitness mega-influencer Simeon Panda as the new face of the brand. The partnership bridges the famed, Venice-born gym’s storied past to the future of the evolving brand.
Panda, who has more than 17 million social media followers worldwide, joins past bodybuilding icons like Arnold Schwarzenegger, Lou Ferrigno and Franco Columbu who have famously chosen Gold’s Gym as their muscle-building home. Panda is a longtime regular at The Mecca, the name given to the flagship Venice Gold’s Gym for its global status as the center of the bodybuilding world.
“Simeon’s authenticity, commitment to fitness and high standards, coupled with his genuine love of Gold’s Gym, make him a natural fit for the brand,” said Gold’s Gym CEO and RSG Group North America President Sebastian Schoepe. “With this partnership, we want to foster a worldwide community through fitness and showcase the evolution and progression of the brand.”
Starting in May, Panda and Gold’s Gym will unveil a new four-week fitness program, The Mecca Method. Panda will create ongoing motivational and instructional content to lead the next generation of fitness fanatics at Gold’s Gym through the challenge.
“Gold’s Gym Venice embodies everything I love about bodybuilding. The passion and camaraderie are unlike anything you can experience anywhere else — they are as much in the history that adorns the walls as in each individual that frequents the establishment. I am honoured that my passion is recognized, and I am excited to proudly carry the torch for the next generation,” said Panda. “My lifelong goal has been to share motivation and positivity within the fitness community, and this partnership with Gold’s Gym gives me another platform to inspire others and take them on this journey with me.”
Gold’s Gym’s enduring legacy includes welcoming those new to fitness as well as famed body sculptors. Gold’s Gym offers world-class facilities, state-of-the-art equipment, expert personal training and the famous Gold’s Gym Challenge, an eight-week, full-body fitness competition that has helped motivate countless members across the globe to transform their bodies and lives.

T&T Supermarkets diverts over 200,000 pounds of possible food waste from landfill

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The company announced that in partnership with food rescue agency, Second Harvest, the company has been able to divert over 200,000 pounds of potential food waste from landfills. Preventing over 400,000 pounds of greenhouse gases from entering the atmosphere. T&T first began its partnership with Second Harvest in April 2021, and subsequently launched the program quickly across all 29 stores by December of the same year. Using the Second Harvest Food Rescue App, healthy, surplus food is redistributed to frontline social service agencies serving people in need.  Since 2021, T&T has provided enough food for over 200,000 meals.
“In addition to the social impact, food waste has serious implications for the environment and the economy and as a grocer, we know we’re in a unique position to make a difference,” said Tina Lee, CEO of T&T Supermarkets. “We couldn’t be prouder of our work to date with Second Harvest and look forward to doing more, as we expect all of our production units to be onboarded by June of this year.”
T&T, along with parent company Loblaw Companies Limited, has pledged to send zero food to landfills by 2030. Food waste diversion programs like this one with Second Harvest are an important tool to help meet this goal, an excellent solution to avoid needless food waste, and a big part of our collective fight against hunger and climate change.

The government of Canada and the Province of British Columbia make a significant investment in salmon research and restoration projects

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The regeneration of wild Pacific salmon populations is fundamental to rebuilding a healthy ocean ecosystem. Wild Pacific salmon are also vitally important for food and cultural purposes, of many Indigenous communities throughout British Columbia. This is why protecting wild salmon stocks and their habitat is a priority for both the Government of Canada and the Province of British Columbia.
The Minister of Fisheries, Oceans, and the Canadian Coast Guard, the Honourable Joyce Murray and Fin Donnelly, BC’s Parliamentary Secretary for Fisheries and Aquaculture on behalf of the BC Minister of Land, Water, and Resource Stewardship, the Honourable Josie Osborne, announced $30.5 million in funding for 22 projects under the British Columbia Salmon Restoration and Innovation Fund (BCSRIF).
Today’s investment supports monitoring, research and planning processes that will enhance our understanding of the critical factors affecting local salmon populations. The results will help inform future management decisions as we work to restore and rebuild key salmon habitats throughout the province. Of the 22 projects, 18 will be led by or conducted in partnership with Indigenous organizations and communities across British Columbia.

A few notable projects announced today include:

• the Chemainus/Koksilah Twinned Watershed Salmon Sustainability Project aims to record and assess the status, abundance, and preferred habitat of various salmon species in the Chemainus and Koksilah rivers and then use that data to monitor demonstration restoration initiatives addressing low flow impacts on critical anadromous salmonid habitats in those watersheds.
• the Pacific Salmon Foundation’s project to expand and improve the use of the Pacific Salmon Explorer, an interactive data visualization tool that tracks and reports information on the status of fish Conservation Units and their freshwater habitats in BC.
• the next stage of Makeway Charitable Society’s Resilient Waters initiative will restore connections to the salmon habitat to the Lower Fraser River that has long been broken by flood control infrastructure; and
• the First Nations Fisheries Legacy Fund Society’s project is to enhance the capacity for monitoring and managing wild salmon habitat in First Nations by integrating community mapping and geospatial technologies.
• BCSRIF funding is open to Indigenous communities, industry associations, environmental non-governmental organizations, commercial enterprises, and academic institutions. Investments through this program will help recover salmon habitat, benefit commercial and recreational fishing and aquaculture, as well as support science and research initiatives.

Further information on the application process, timelines and program criteria are available on the BCSRIF website: www.bcsrif.ca
“We have a once-in-a-generation opportunity to protect and rebuild wild Pacific salmon stocks. BCSRIF harnesses British Columbians’ shared passion and commitment to finding innovative ways to regenerate wild salmon abundance and the fisheries they support. Our government is committed to making the needed investments in programs that work to help salmon populations grow and thrive. We aim to build the foundation for a sustainable future.
The Honourable Joyce Murray, Minister of Fisheries, Oceans, and the Canadian Coast Guard

“It’s increasingly important that we use innovation, infrastructure and science partnerships to help protect and restore priority wild B.C. fish populations inland and on the coast. BCSRIF is one of our prime federal-provincial tools that enable such partnerships with strong funding support. These 22 new BCSRIF projects will be models that teach us and inspire many more. We’re committed to keeping working to support wild fish and fisheries and the British Columbians who make their living from them.”
The Honourable Josie Osborne, BC Minister of Water, Land, and Resource Stewardship

“Congratulations to the latest project recipients and thank you for your commitment in helping conserve, protect and restore salmon and steelhead populations. These diverse BCSRIF projects vary in location, scale and proponents; together, they all contribute to protecting and restoring wild fisheries, creating a more sustainable future for local communities and workers.”
Fin Donnelly, Parliamentary Secretary for Fisheries and Aquaculture, Government of British Columbia

Quick Facts

Launched in March 2019, the British Columbia Salmon Restoration and Innovation Fund has made investments in support of habitat protection and restoration, ensuring the fish and seafood sector in British Columbia is positioned for long-term environmental and economic sustainability.
Eighty-three projects have received BCSRIF funding since its inception in 2019, representing an investment of more than $116 million in the rebuilding of wild Pacific salmon stocks and supporting the BC fish and seafood sector.
Additional information on projects selected for BCSRIF funding can be found online here.
The BCSRIF is a 70 percent federal, 30 percent provincial cost-shared program.
The Government of Canada initially invested $100 million over five years to the BCSRIF, to support projects focused on habitat protection and restoration, including the maintenance of healthy and diverse salmon populations. Budget 2021 committed an additional investment of $100 million to expand the program. The Government of British Columbia’s current investment is $42.85 million over five years.
BCSRIF funding is open to applications from Indigenous communities, commercial organizations in the wild fisheries and aquaculture sectors, recreational fisheries, as well as non-commercial organizations such as universities and research institutions, industry associations, and conservation groups.
The Government of Canada’s $647.1-million Pacific Salmon Strategy Initiative investment is the largest-ever government investment in efforts to save Pacific salmon. Through this investment, Canada will guide a strategic and coordinated long-term response, rooted in collaborative action, to stabilize and protect Pacific salmon for the ecosystems, people, and communities that depend upon their sustainability.

The Yumy Candy Company launches an aggressive expansion plan South of the border

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Currently, the Company is evaluating potential distribution partners and food brokers to help facilitate the expansion. After landing on the shelves of Canada’s largest retailer and Western Canada’s largest retailer, the Company has become a very desirable brand for many U.S. distributors and has been evaluating all options. The Yumy Candy Company will look to expand its low-sugar better-for-you confectionery, specifically partnering with the largest U.S. distribution networks that align with the core principles of the Company including delivering the best value to end-users and the most aggressive distribution plan. Expansion into the U.S. will serve as the Company’s first step into the international market, which is important for its successful global growth.
“Expanding into the United States is a game-changer for our Company. If executed properly, it will exponentially grow our revenues and global profile. Establishing our brand as one of the top confectionery companies in Canada has allowed us to go into the US with leverage. Entering the market with a known brand with a history of success, we have become a desired and preferred product to many distributors. Our Company has been reached out to by some of the country’s top distributors/brokers and we are currently in in-depth discussions with them. Over the last year, we have entertained many offers to come to the U.S., but now we feel that our Company is ready and poised for this expansion. We have confidence in our existing infrastructure, our aggressive growth strategy, manufacturing capabilities, distribution plan, and our ability to market our product,” states Erica Williams, CEO and Founder.
The United States confectionery market is the largest in the world and there is an increasing push for consumers to buy healthier low-sugar products as consumers become increasingly aware of the negative effects of obesity, diabetes and calories intake. The Yumy Candy Company is a lifestyle company focused on nutrition, health and delivering the best value to its clients.
“We have a unique look on confectionery different than any of our competitors and an array of new products in our pipeline, with what we have planned over the next period we feel confident that we can replicate our success we’ve had in Canada and become a leader in the U.S. confectionary space. When we first started the Company, we knew going to the U.S. would be a necessity to reach the level of success we set out to achieve and I am pleased to say the time has come!” States Erica Williams, CEO and founder of Yumy Candy.
The U.S. has over 63,000 supermarkets and grocery store businesses as of 2022, representing one of the largest grocery retail numbers in the world. The global sugar-free confectionery market size was valued at USD $2 billion in 2021 and is expected to grow at a compound annual growth rate of 5.4% from 2021 to 2031. The United States holds a market share of 84.5% of the global sugar-free confectionery demand. The growth is attributed to the widespread impression that the sugar-free version is healthier than its conventional counterparts and the growing number of health-conscious people.

The Yumy Candy is an affordable health-conscious low-sugar plant-based confectionery company based in Vancouver, British Columbia and it has developed a portfolio of healthier gelatine-free candies made from non-GMO ingredients with proprietary recipes. All of its products are free of gelatin, soy, gluten, nuts, dairy, eggs, sugar alcohols, artificial sweeteners and genetically modified organisms.

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