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, Aug. 9, 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. Aurora Cannabis Announces Fiscal 2025 First Quarter Results and Delivers Positive Free Cash Flow 
   "This was a milestone quarter for Aurora, as we delivered strong net revenue¹ growth, a substantial increase in adjusted EBITDA¹, and positive free cash flow¹. Our impressive performance was driven by record net revenue¹ in the rapidly growing global medical cannabis segment, and we look forward to building on our achievements in key markets such as Germany, Australia, and the UK throughout fiscal 2025 and beyond. The quarter was further supported by a record contribution from our Bevo plant propagation business, underscoring the strength of our diversified business model," said Chief Executive Officer Miguel Martin.
2. RECONAFRICA ANNOUNCES AN OPERATIONS UPDATE 
   The Naingopo exploration well has been drilled to a depth of 1,450 metres, with surface casing set at 350 metres and a first casing string set at 1,200 metres. The well has been tracking to drilling depth and well cost estimates, with everything on schedule and plan. Elsewhere on PEL 73, the Company continues to make progress in the construction of the access road for the second Damara Fold Belt exploration well, Prospect P, which is expected to start drilling in the fourth quarter of 2024. Prospect P is targeting 309 million barrels of unrisked prospective light/medium oil resources⁽¹⁾ or 1.6 trillion cubic feet of prospective natural gas resources⁽¹⁾, on a 100% working interest basis, based on the most recent prospective resources report prepared by NSAI.
3. Deep Sky to Build World's First Carbon Removal Innovation & Commercialization Centre, Deep Sky Labs, in Innisfail, Alberta
   Deep Sky, the Canadian carbon removal project developer, has selected a site in Innisfail, Alberta to build the world's first carbon removal innovation and commercialization centre, Deep Sky Labs. Strategically located an hour north of Calgary, Innisfail is an emerging clean energy hub. Deep Sky Labs' mission is to accelerate the path to low cost, low energy intensity and highly scalable carbon dioxide removal (CDR) to produce high integrity carbon credits. The project represents an industry first for the private development of scalable CDR, the first cross-technology project in the world, and the first commercial direct air capture project in Canada.
4. Air Canada Reports Second Quarter 2024 Financial Results 
   "Air Canada today reported second quarter operating revenues of more than $5.5 billion and adjusted EBITDA of $914 million.  We saw healthy demand, with load factors remaining above historical averages. We remained sharply focused on our customers and operations throughout the quarter and experienced a 10-percentage point year-over-year improvement in our on-time performance, even with the increased flying. I thank our employees for their hard work in safely transporting 11.6 million customers in the quarter and I am pleased to see their efforts recognized as we were ranked the best airline in Canada and received five honours at the Skytrax 2024 World Airline Awards, the most of any Canadian carrier," said Michael Rousseau, President and Chief Executive Officer of Air Canada.
5. TD Direct Investing launches fractional trading for Canadian investors 
   Today, TD Direct Investing (DI) is excited to offer Canadians a simpler way to invest in the stock market, with the launch of partial shares. With partial shares, also commonly known as fractional shares, investors can buy and sell a fraction of stocks and exchange-traded funds (ETFs), making investing accessible to all. "As Canada's first and largest direct investing brokerage, we're proud to continue our longstanding heritage of breaking down barriers for individual investors," said Scott Ignall, Senior Vice President, TD Direct Investing and Delivery, TD Bank Group. "We believe investing should be accessible for all. With partial shares from TD Direct Investing, Canadians can invest in the companies they want, regardless of the share price or how much they have to invest."
6. CIBC to hire more than 200 data and AI roles to further momentum in delivering for clients 
   A priority for the hires will be continuing the development of resilient and trustworthy AI solutions across the bank, which has various AI use cases in development. CIBC has a long history of leveraging AI in key functions, including existing implementations such as sophisticated risk, fraud, and information security models. As new Generative AI solutions continue to evolve, the bank has executed several pilot programs that have GenAI functionality built in. These new hires will enable CIBC to operationalize AI at scale, enhance the experience for clients and team members, and continue to build out the governance and guidelines within which AI operates.
7. Canadian Tire Corporation Reports Second Quarter 2024 Results 
   "We delivered well in the quarter, as top-line pressures were balanced by strong margin and cost control, improving our retail profitability," said Greg Hicks, President and CEO, Canadian Tire Corporation. "In a quarter that traditionally skews heavily to discretionary purchases, consumers remained cautious and weather conditions compounded declines. Yet, Canadians continued to turn to our banners for new products, seasonal favourites, and innovative Triangle Rewards campaigns – with categories and regions of our business providing us positive signals." "Looking to the second half of the year, we are well positioned with the right assortment and inventory to meet the needs of Canadians and are confidently leveraging investments to strengthen our connection with customers, online and in stores."
8. NG ENERGY PROVIDES SINU-9 DEVELOPMENT UPDATE AND ANNOUNCES TRANSITION OF BOARD OF DIRECTORS AND SENIOR MANAGEMENT 
   As of the end of July, the total workforce for the Sinu-9 Phase 1 infrastructure project reached a milestone of approximately 160 individuals, comprising staff, contractors, and local workers. With all final construction activities nearing completion, commissioning of Phase 1 for early production is expected in the next three to four weeks and full production is expected to commence within the next six to eight weeks. Further to the Company's June 27, 2024, news release, the Company has completed its production optimization activities at Maria Conchita and is now completing production planning and geological studies to test and successfully produce natural gas from the discovered H4 zone from the Aruchara-3 well.
9. TimeVallée celebrates the opening of its first store in Canada 
   In a notable expansion, Swiss multi-brand watch retail concept, TimeVallée, is excited to announce the opening of its first flagship store in Canada, in partnership with Maison Birks. Nestled within the highly anticipated Royalmount Center in midtown Montreal, the store is set to open to the public on September 5th, 2024.  With this new location TimeVallée is also celebrating the milestone of its 50^th boutique worldwide. TimeVallée's Montreal store will offer a comfortable 2,800 sq. ft. space to discover a curated selection of watches from seven of the most prestigious Maisons worldwide: Baume & Mercier, Cartier, Chopard, Grand Seiko, Jaeger-LeCoultre, Panerai and Piaget. Each Maison is presented in a distinctive setting that emphasizes its heritage and craftsmanship, designed to engage enthusiasts of horology.
10. TELUS announces Canada's fastest and most reliable internet technology is coming to Doig River First Nation 
    TELUS and Doig River First Nation, in partnership with All Nations Trust Company, the Government of Canada, the Government of B.C. and the Northern Development Initiative Trust, celebrate the groundbreaking ceremony for TELUS PureFibre, which will enable faster, more reliable internet and wireless connectivity in Northeast B.C., unlocking new opportunities for residents and businesses. This $19.2-million project will connect more than 60 households and a dozen businesses in Doig River First Nation, approximately 70 kilometers northeast of Fort St. John, as well as hundreds of households in another 14 communities. This PureFibre expansion is a continuation of TELUS' ongoing efforts to bring Western Canada's fastest and most reliable internet technology to even more rural and Indigenous communities, residents and businesses.

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.

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SOURCE Cision Canada

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