Business Bulletins News

IW Business Bulletin – October 15, 2021

memoryKPR team celebrates app launch on October 12.

SaskPower CEO Mike Marsh Retiring

SaskPower announced October 14 that president and CEO Mike Marsh will be stepping down from the Crown effective Deccember 31, 2021.

Marsh spent 30 years with SaskPower, first beginning his career as a plant engineer at Estevan’s Boundary Dam Power Station. He worked in several positions before becoming vice-president of Transmission and Distribution in 2007, then vice-president of operations and COO in 2012, and finally president and CEO in 2015.

“I’d like to thank Mike for his 30 years of service to SaskPower, and for his leadership in navigating a rapidly evolving industry,” said Don Morgan, Minister responsible for SaskPower. “Mike’s expertise has been a great asset, as SaskPower acts on Saskatchewan’s Prairie Resilience Climate Strategy.”

Under Marsh’s tenure as CEO, the Crown Corporation saw the construction of several major generation projects, including the expansion of the Queen Elizabeth Power Station, the E.B. Campbell Hydro Station refurbishment, construction and commission of the Chinook Power Station at Swift Current, and the commencement of construction of Moose Jaw’s Great Plains Power Station.

“On behalf of the Board, I would like to extend our heartfelt thanks to Mike for the three decades he’s given to SaskPower,” said SaskPower Board Chair Chief Darcy Bear. “Mike has always brought the best out in his team, and having spent most of his professional career at SaskPower, he has an invaluable knowledge of the business and a genuine concern for his employees and SaskPower’s customers. He has been able to guide SaskPower through a global pandemic, while ensuring quality service to customers and keeping employees safe. We congratulate Mike on his retirement and wish him the very best.”

A search for SaskPower‘s next president and CEO will begin soon, led by the company’s board of directors.

PFM Capital and Prairie Lithium Complete Placement

October 14 saw news that Prairie Lithium Corp. completed a $7.5 million private placement, led by Regina’s PFM Capital – Saskatchewan’s largest private equity investment firm. The offering was upsized from $4 million, due to demand.

Prairie Lithium is a dual stream developer of lithium resource and lithium extraction technology, with a project based in the Williston Basin. The company will use the funds for exploration and development, process development and working capital.

“PFM is excited to partner with Prairie Lithium which has established itself as a Western Canadian leader in this burgeoning industry,” said Jason Moser, partner and senior director of investments at PFM Capital Inc. “We believe the Company can capitalize on strong macro fundamentals and advance the industry in Saskatchewan and beyond.”

Foran Mining Announces Increase

Foran Mining provided an update to its mineral resource estimate for its McIlvenna Bay Deposit near Flin Flon. Indicated resources increased by 70 per cent, which proves the viability of the project, according to company CEO Dan Myerson.

“As demonstrated by the incredible success of our 2021 infill program, McIlvenna Bay has now proved itself to be a high-quality, large and cohesive deposit, that will act as the first mining operation for our planned and scalable centralized processing facility at the Hanson Lake District. The significant increase in indicated resources from our ~25,000m program in 2021 is a testament to the skill and efforts of our world-class exploration team and showcases the continuous nature of the deposit, which remains open and has the potential to grow. We are now integrating the data from this resource estimate into our coming feasibility study and are planning for an aggressive and exciting exploration program in 2022,” said Myerson.

Foran’s McIlvenna Bay project plans to be the world’s first carbon-neutral copper development.

ISC Announces Departure and New Appointment

On October 13, ISC president and CEO Jeff Stusek announced he would be stepping down from his role at Information Services Corporation (ISC), departing January 31, 2022. Stusek has held the role for 13 years.

The ISC Board has appointed Stusek’s successor, Shawn Peters, who will take over on February 1, 2022. Peters currently serves as executive vice president & CFO at ISC.

“On behalf of the Board, I would like to thank Jeff for his steadfast commitment, as well as recognize the significant contribution he has made during his time with the Company. His calm and determined manner have been synonymous with his leadership, and he has been instrumental in leading the company through a time of transformational change and in creating a highly successful, well-positioned and diversified business,” said Joel Teal, chair of ISC’s board of directors. “Shawn is a well-rounded and experienced executive with strong strategic acumen who has proven to be an exceptional leader since joining ISC in April 2012. The Board is confident that under his leadership and through his deep familiarity with the Company, ISC will continue to grow in a strategic manner and deliver long-term value to shareholders. On behalf of the Board, I would like to congratulate Shawn on his appointment.”

Global Helium Makes More Moves

Calgary’s Global Helium Corp. has announced more acquisitions in southern Saskatchewan. On October 12, the company announced it now has over 1 million of acreage in the province’s helium fairway.

“This additional helium-specific acreage represents a 50% increase to our previous land position, making Global the second largest acreage holder in the heart of Saskatchewan’s helium fairway,” said Wes Siemens, Global’s president. “Our geological and geophysical teams are working to rapidly move our prospects to the drill stage and to advance the geological evaluation of our massive land base.”

The company is now the second largest helium acreage-holder in Canada. Global’s first core area is northeast of Swift Current, the second is 150 km south of Regina and the third is along the Saskatchewan/Montana border near Climax.

SaskPolytech Officially Opens Digital Integration Centre of Excellence (DICE)

October 12 saw the opening of the Digital Integration Centre of Excellence (DICE) at Innovation Place in Saskatoon. The new Sask Polytech centre is Saskatchewan’s first Technology Access Centre (TAC) funded by the Natural Sciences and Engineering Research Council of Canada (NSERC) and Innovation Saskatchewan.

“We are excited for DICE to join the Innovation Place community,” said Dr. Larry Rosia, Sask Polytech’s president and CEO. “DICE has an important role to play in advancing Saskatchewan’s growing tech sector and continues to position Saskatchewan Polytechnic at the forefront of data and digital applied research in Canada.”

DICE, a part of Sask Polytech’s Office of Applied Research and Innovation, provides digital solutions with a focus on data, including cybersecurity, Internet of Things (IoT), asset monitoring and management and more. DICE works across sectors and the country, supporting research in agriculture, mining, construction, health sciences and more.

“Business, industry and non-profits work with the DICE to provide innovative solutions for solving data and digital challenges in Saskatchewan and across the country,” said Dr. Terry Peckham, Sask Polytech’s DICE TAC director. “It can be as basic as to how to identify usable business statistics or as complex as using machine learning and artificial intelligence to ensure constant process optimization on a production line. Our student researchers, faculty and staff work on exceptional applied research projects. If you have a digital business challenge you need assistance with, DICE is ready to help.”

MemoryKPR officially launches App

Saskatchewan tech startup memoryKPR technologies celebrated the launch of their App in the Google and Apple App stores on October 12. The company had been operating as a web app previously and is excited about this next milestone.

memoryKPR is a Sask-based start-up founded by Jessica McNaughton and Taylor Fox. Operating from the Conexus Cultivator tech incubator with staff in Moose Jaw, Saskatoon, and Regina, the company is focused on ensuring user stories “live on and look beautiful.” The app is free to use and downloadable now.

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