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Parkland delivers record third quarter results and raises 2019 Adjusted EBITDA Guidance to $1.24 Billion

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Parkland delivers record third quarter results and raises 2019 Adjusted EBITDA Guidance to $1.24 Billion

CaribPR Wire, CALGARY, Alberta, Nov. 04, 2019: Parkland Fuel Corporation (”Parkland”, “we”, the “Company”, or “our”) (TSX:PKI) announced today the financial and operating results for the three and nine months ended September 30, 2019. The Company’s results were underpinned by operational excellence, continued synergy capture, and strong performance across the portfolio. All financial figures are expressed in Canadian dollars unless otherwise noted. Highlights from the third quarter include:

  • Adjusted EBITDA (attributable to Parkland) of $302 million and net earnings of $24 million ($0.16 per share, basic). We now expect to deliver full-year Adjusted EBITDA of $1.24 Billion +/- 5 percent
  • Fuel and petroleum product volumes of 5.6 billion litres, up 34 percent year over year
  • Non-GAAP Adjusted distributable cash flow of $125 million ($0.84 per share) and adjusted dividend payout ratio of 36 percent
  • Achieved run-rate annual synergies of approximately $160 million from the 2017 Ultramar and Chevron acquisitions; on track to reach approximately $180 million by the end of 2020
  • Demonstrated continued balance sheet strength and financial flexibility with Total Funded Debt to Credit Facility EBITDA ratio of 2.6 times

“We delivered strong financial and operating performance across all segments and continue to demonstrate our ability to operate efficiently at scale,” said Bob Espey, President and Chief Executive Officer. “Our resilient business and diverse portfolio has generated consistent results through 2019 and we expect to deliver an increased full-year 2019 Adjusted EBITDA Guidance Range of $1.24 Billion +/- 5 percent. We are well positioned for continued growth and value creation.

“In Canada, we began the national rollout of our JOURNIE™ Rewards customer loyalty program with CIBC as a strategic banking partner. The International segment continues to track ahead of plan and our acquisition of Tropic Oil in October contributed to our ongoing US growth strategy. We also achieved high utilization rates at our Burnaby Refinery. I would like to thank the Parkland team for their continued focus on advancing our strategy and setting ourselves up for continued success in 2020.”

Third Quarter Segment Highlights

Canada Retail: Continuing to enhance our customer value proposition

  • Adjusted EBITDA of $91 million (Pre-IFRS 16: $84 million), down $3 million from the same period in 2018 (excluding the impact of IFRS 16), due to slightly weaker industry gasoline margins in British Columbia and Ontario, offset by growth in non-fuel gross profit and lower operating costs.
  • Company volume same-store-sales growth (”SSSG”) was (0.3) percent, holding market share through strategic pricing improvements and targeted promotional activities but offset by weaker traffic across the industry.
  • Achieved Company C-Store SSSG of 0.9 percent, marking the 15th consecutive quarter of growth. Driven by strong execution, the successful implementation of the On the Run / Marché Express store concepts, our proprietary private label 59th Street Food Co. brand and strategic marketing efforts, we drove higher forecourt to backcourt conversion rates to deliver growth across the snacks, beverages and carwash categories.
  • Disciplined cost control measures and the conversion of company-owned, company-operated (”COCO”) sites to company-owned, retailer-operated (”CORO”) sites delivered lower operating and labour costs. We continued to evolve our retail site composition, converting approximately 20 additional Ultramar COCO sites to CORO sites. We now have approximately 20 Ultramar COCO sites remaining to convert.
  • Invested $27 million of growth capital on new to industry (”NTI”) retail sites, rebrands and refreshes including investments in the new On the Run / Marché Express store concepts.
  • On October 17, 2019 we announced the launch of JOURNIE™ Rewards, with CIBC as a strategic banking partner. JOURNIE™ will offer Canadians compelling fuel savings and merchandise offers and supports our strategy to grow our fuel sales volumes and increase foot traffic in our Canadian convenience stores. See our press release dated October 17, 2019 for further details.

Canada Commercial: Business optimization and positioning for growth

  • Adjusted EBITDA of $12 million (Pre-IFRS 16: $10 million), consistent with the same period in 2018 (excluding the impact of IFRS 16).
  • Fuel and petroleum product volumes decreased 7 percent relative to Q3 2018. We more than mitigated the impact of weaker forestry and upstream energy sector volumes and grew fuel and petroleum product adjusted gross profit per litre by 9 percent to 7.50 cpl, through a continued strategic reduction in high volume, low margin business in other areas of our portfolio.

USA: Acquisitions, organic growth, synergy capture and leveraging our supply advantage

  • Adjusted EBITDA of $17 million (Pre-IFRS 16: $16 million), up $8 million from the same period in 2018 (excluding the impact of IFRS 16), due to previously announced acquisitions, organic growth and synergy realization. We benefited from strong retail margins within our Rockies Regional Operations Center and strong diesel margins through the continued sourcing of diesel via rail from Canada.
  • Fuel and petroleum product volume was 455 million litres, up 65 percent from the same period in 2018 due to acquisition activity and organic growth initiatives.
  • Trailing twelve-month operating ratio continues to improve, at 69 percent, demonstrating our focus on cost control and the growing benefits of scale.
  • On October 1, 2019, we closed the previously announced acquisition of Tropic Oil. Tropic Oil is headquartered in Miami, Florida, and transports, distributes and markets a full range of fuels and lubricants across the Central and South Florida region. See press release dated September 5, 2019 for more details.

International: Volume growth, synergy capture and cost control

  • Adjusted EBITDA of $63 million (Pre-IFRS 16: $49 million), reflecting Parkland’s 75 percent ownership in Sol. The third quarter is a seasonally low quarter for Sol due to reduced tourism activity.
  • Fuel and petroleum product volume totaled 1,204 million litres, consisting of 458 million litres sold through retail channels and 746 million litres sold through commercial and wholesale channels.
  • Performance was driven by solid execution across all regions, including strong volumes in South America and the Western Caribbean and cost control measures in the French Caribbean.
  • We continue to benefit from early synergy capture and are on track to meet our targets by the end of 2021.

Supply: High refinery utilization and reliability, strong logistics performance

  • Adjusted EBITDA of $147 million (Pre-IFRS 16: $138 million), up $17 million from the same period in 2018 (excluding the impact of IFRS 16). The Supply segment continues to perform well, underpinned by safe and reliable operations at the Burnaby refinery and consistent performance from our integrated logistics operations (Supply & Distribution, Elbow River Marketing).
  • Solid refinery utilization of 96.2 percent, lower average crude transportation costs and profitable supply sourcing initiatives allowed us to capture strong refining crack spreads, specifically in September.
  • We continue to successfully co-process biofeeds at the Burnaby refinery, which helps establish Parkland as a leader in low-carbon fuel refining while meeting British Columbia’s low carbon fuel requirements.

Corporate: Disciplined cost control and efficiency

The Corporate segment includes centralized administrative services and expenses incurred to support operations.

  • Adjusted EBITDA of negative $28 million (Pre-IFRS 16: negative $29 million).
  • As a percentage of total adjusted gross profit, marketing, general and administrative expenses favorably decreased to 4.3 percent (down from 5.6 percent in Q3 2018).
  • Parkland manages its corporate expenses tightly and is focused on ensuring they increase at a slower pace than the Company’s adjusted gross profit.

Consolidated Financial Overview

On January 1, 2019, Parkland adopted IFRS 16 – Leases (”IFRS 16″). The adoption of IFRS 16 increases Adjusted EBITDA by reducing operating costs and increasing depreciation, amortization, and finance and other costs. IFRS 16 also increases Parkland’s assets and liabilities and has no overall impact to cash flow. For further information, refer to the unaudited Q3 2019 Interim Condensed Consolidated Financial Statements (”Q3 2019 FS”) and Q3 2019 Management’s Discussion and Analysis (”Q3 2019 MD&A”) for the three and nine months ended September 30, 2019.

($ millions, unless otherwise noted) Three months ended September 30, Nine months ended September 30,
2019 2018 2017 2019 2018 2017
Financial Summary
Sales and operating revenue 4,605 3,811 2,580 13,674 10,936 6,131
Adjusted gross profit(1) 679 465 266 2,104 1,408 625
Adjusted EBITDA including non-controlling interest (”NCI”) 322 200 96 1,031 602 220
Adjusted EBITDA attributable to NCI 20 68
Adjusted EBITDA attributable to Parkland (”Adjusted EBITDA”)(1) 302 200 96 963 602 220
Net earnings 26 49 12 228 129 33
Net earnings attributable to:
Parkland 24 49 12 206 129 33
NCI 2 22
Net earnings per share ($ per share)
Per share – basic 0.16 0.37 0.10 1.41 0.98 0.30
Per share – diluted 0.16 0.36 0.10 1.38 0.95 0.29
Distributable cash flow(2) 122 118 45 415 265 106
Per share(2)(3) 0.82 0.89 0.34 2.82 2.01 0.95
Adjusted distributable cash flow(2) 125 144 64 418 393 149
Per share(2)(3) 0.84 1.08 0.49 2.84 2.98 1.33
Dividends 45 39 38 133 118 99
Dividends declared per share outstanding 0.2985 0.2934 0.2886 0.8921 0.8770 0.8624
Dividend payout ratio(2) 37 % 33 % 84 % 32 % 45 % 92 %
Adjusted dividend payout ratio(2) 36 % 27 % 59 % 32 % 30 % 66 %
Total assets 9,157 5,736 4,830 9,157 5,736 4,830
Total long-term liabilities 5,126 2,544 2,325 5,126 2,544 2,325
Shares outstanding (millions) 148 133 131 148 133 131
Weighted average number of common shares (millions) 148 133 131 147 132 113
Operating Summary
Fuel and petroleum product volume (million litres)(1)(4) 5,622 4,211 3,557 16,483 12,624 8,901
Fuel and petroleum product adjusted gross profit(2) (cpl)(5)(6)
Canada Retail 7.65 7.78 7.10 7.33 7.88 6.28
Canada Commercial 7.50 6.86 6.95 8.74 8.40 9.48
USA 4.84 3.27 2.97 4.83 3.51 3.27
International 10.22 10.91
Refinery utilization(6) 96.2 % 97.7 % % 94.4 % 74.1 % %

(1) Measure of segment profit. See Section 12 of the Q3 2019 MD&A.
(2) Non-GAAP financial measure. See Section 12 of the Q3 2019 MD&A.
(3) Calculated using the weighted average number of common shares.
(4) Fuel and petroleum product volume represents external volumes only. Intersegment volumes, including volumes produced by the Burnaby Refinery and transferred to the Canada Retail and Canada Commercial segments, are excluded from this reported volume.
(5) “cpl” stands for cents-per-litre and is a key performance indicator. See Section 12 of the Q3 2019 MD&A.
(6) Key performance indicator. See Sections 3 and 12 of the Q3 2019 MD&A.

The following table outlines the impact of IFRS 16 on Adjusted EBITDA as reported for the three and nine months ended September 30, 2019:

Three months ended September 30, Nine months ended September 30,
($ millions) 2019 2018 2019 2018
Adjusted
EBITDA as reported
IFRS 16
Impact
Pre-IFRS 16 Amount(1) Adjusted
EBITDA as
reported
Adjusted
EBITDA as
reported
IFRS 16
Impact
Pre-IFRS 16 Amount(1) Adjusted
EBITDA as
reported
Canada Retail 91 (7 ) 84 87 227 (18 ) 209 238
Canada Commercial 12 (2 ) 10 10 66 (5 ) 61 66
USA 17 (1 ) 16 8 41 (2 ) 39 17
Supply 147 (9 ) 138 121 506 (22 ) 484 362
International 63 (14 ) 49 208 (42 ) 166
Corporate (28 ) (1 ) (29 ) (26 ) (85 ) (3 ) (88 ) (81 )
Consolidated 302 (34 ) 268 200 963 (92 ) 871 602

(1) Pre-IFRS 16 amounts are comparable to the reported information for the respective prior periods, which were calculated under IAS 17.

Updated 2019 Outlook & Guidance Range

Parkland is focused on its key strategies of organic growth, building a strong supply advantage, acquiring prudently and enabling our teams to succeed. Driven by strong performance year to date and high confidence in our fourth quarter projections, our 2019 Adjusted EBITDA Guidance Range (attributable to Parkland), which includes the impact of IFRS 16, is increased by $75 million to $1,240 million with an anticipated variance of up to 5 percent (the “2019 Guidance Range”).

In addition, the Company continues to expect approximately $200 million of maintenance capital expenditures for 2019. As indicated last quarter, we have identified additional opportunities within the Sol business which are now expected to increase 2019 growth capital expenditures by approximately $20 million, to $220 million.

The 2019 Guidance Range includes some other key assumptions highlighted below:

  • Includes Sol’s Adjusted EBITDA that is attributable to Parkland (75 percent), which is trending above our initial expectations
  • Burnaby refining margins forecast is based on our view of future market conditions
  • The performance of recently acquired businesses, general market conditions, including but not limited to fuel margins and weather, will remain substantially consistent for the remainder of 2019
  • The low end of our 2019 Guidance Range accounts for potential adverse market conditions across our areas of operations, as well as the potential for lower refining margins than currently observable, while the high end of our 2019 Guidance Range accounts for greater than expected contributions from acquisition synergies, refining margins and organic growth

In addition, the factors and assumptions which contribute to Parkland’s assessment of the 2019 Guidance Range are consistent with existing Parkland disclosure and such guidance range is subject to risks and uncertainties inherent in Parkland’s business. Readers are directed to the “Risk Factors” section in the Q3 2019 MD&A and the Annual Information Form for a description of such factors, assumptions, risks and uncertainties.

Conference Call and Webcast Details

Parkland will host a webcast and conference call on Tuesday, November 5, 2019 at 6:30am MT (8:30am ET) to discuss the results.

To listen to the live webcast and watch the presentation, please use the following link:

https://event.on24.com/wcc/r/2117142/9A4DB55629572B2AF379B48C738BD8D0

Analysts and institutional investors interested in participating in the question and answer session of the conference call may do so by calling 1-888-390-0605 (toll-free) (Conference ID: 47536039). International participants can call 1-587-880-2175 (toll) (Conference ID: 47536039).

Please connect and log in approximately 10 minutes before the beginning of the call.

The webcast will be available for replay two hours after the conference call ends at the link above. It will remain available for one year and will also be posted to www.parkland.ca.

MD&A and Consolidated Financial Statements

The Q3 2019 MD&A and Q3 2019 FS provide a detailed explanation of Parkland’s operating results for the three and nine months ended September 30, 2019. An English version of these documents will be available online at www.parkland.ca and SEDAR after the results are released by newswire under Parkland’s profile at www.sedar.com. French Financial Statements and MD&A will be posted to www.parkland.ca and SEDAR as soon as they become available.

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information and statements (collectively, “forward-looking statements”). When used in this news release the words “expect”, “will”, “could”, “would”, “believe”, “continue”, “pursue” and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, cash flow growth, run-rate synergies, private label program expansion, fuel volume growth, new business objectives, organic growth initiatives, growth of supply and trading business in the U.S. and Caribbean, Adjusted EBITDA Guidance, capital and maintenance expenditure forecasts, contribution of the Sol business and other previous acquisitions, strategic marketing and operational efforts to increase fuel volume, expected launch of JOURNIE™ Rewards loyalty program, U.S. growth opportunities, and supply improvement and optimization and plans and objectives of or involving Parkland.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, general economic, market and business conditions; industry capacity; competitive action by other companies; refining and marketing margins; the ability of suppliers to meet commitments; actions by governmental authorities and other regulators including but not limited to increases in taxes or restricted access to markets; changes and developments in environmental and other regulations; and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described in “Forward-Looking Information” and “Risk Factors” included in Parkland’s Annual Information Form dated March 27, 2019 and in “Forward-Looking Information” and “Risk Factors” in the Q3 2019 MD&A and annual MD&A dated February 28, 2019, each as filed on SEDAR and available on the Parkland website at www.parkland.ca. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Non-GAAP Financial Measures

This news release refers to certain non-GAAP financial measures that are not determined in accordance with International Financial Reporting Standards (”IFRS”). Distributable cash flow, distributable cash flow per share, adjusted distributable cash flow, adjusted distributable cash flow per share, total funded debt to credit facility EBITDA ratio, dividend payout ratio and adjusted dividend payout ratio are not measures recognized under IFRS and do not have standardized meanings prescribed by IFRS. Management considers these to be important supplemental measures of Parkland’s performance and believes these measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in our industry. See Section 12 of the Q3 2019 MD&A for a discussion of non-GAAP measures and their reconciliations to the nearest applicable IFRS measure.

Adjusted EBITDA and adjusted gross profit are measures of segment profit. See Section 12 of the Q3 2019 MD&A and Note 20 of the Q3 2019 FS for a reconciliation of these measures of segment profit. Annual synergies is a forecasted annualized measure and is considered to be forward-looking information. See Section 12 of the Q3 2019 MD&A. Investors are encouraged to evaluate each measure and the reasons Parkland considers it appropriate for supplemental analysis.

In addition to non-GAAP financial measures, Parkland uses a number of operational KPIs to measure the success of our strategic objectives and to set variable compensation targets for employees. These KPIs are not accounting measures, do not have comparable IFRS measures, and may not be comparable to similar measures presented by other issuers, as other issuers may calculate these metrics differently. See Sections 3 and 12 of the Q3 2019 MD&A for further details.

Investors are cautioned that these measures should not be construed as an alternative to net earnings determined in accordance with IFRS as an indication of Parkland’s performance.

Effective January 1, 2019, Parkland adopted the new accounting standard, IFRS 16 – Leases (”IFRS 16″). The adoption of IFRS 16 has a significant effect on Parkland’s reported results. Due to Parkland’s selected transition method, it has not restated its prior year comparatives. Certain financial statement measures are presented excluding the impact of IFRS 16 (”Pre-IFRS 16 measures”). Refer to the Q3 2019 FS and Q3 2019 MD&A for reconciliations of Pre-IFRS 16 measures.

About Parkland Fuel Corporation

Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.

Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.

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LEVI & KORSINSKY, LLP Announce a Notice of Settlement for all persons and entities that purchased shares of common stock of Altisource Residential Corporation (”RESI”)

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WASHINGTON, Nov. 4, 2019 /PRNewswire-HISPANIC PR WIRE/ –

IN THE DISTRICT COURT FOR THE VIRGIN ISLANDS
DIVISION OF ST. CROIX

ERIC MARTIN, Individually and on
Behalf of All Others Similarly Situated,

Plaintiff,

v.

ALTISOURCE RESIDENTIAL
CORPORATION, WILLIAM C. ERBEY,
ASHISH PANDEY, KENNETH D.
NAJOUR, ROBIN N. LOWE,
and RACHEL M. RIDLEY,

Defendants.

CIVIL NO. 1:15-CV-00024

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, CERTIFICATION OF SETTLEMENT CLASS, PROPOSED SETTLEMENT, SETTLEMENT HEARING, AND MOTION FOR ATTORNEYS’ FEES AND EXPENSES

To:

All persons and entities that purchased shares of common stock of Altisource Residential Corporation (”RESI”) between December 24, 2012 and December 22, 2014, inclusive (the “Class Period”).

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the District of the Virgin Islands, that Lead Plaintiff Lei Shi and Plaintiff Ashley Saunders (collectively, “Plaintiffs”), on behalf of themselves and the Settlement Class, and Altisource Residential Corporation, William C. Erbey, Ashish Pandey, Kenneth D. Najour, Robin N. Lowe, and Rachel M. Ridley (collectively, “Defendants”), have reached a proposed settlement of the above-captioned action in the amount of $15,500,000 that, if approved, will resolve the lawsuit in its entirety (the “Settlement”).

A hearing will be held before the Honorable Anne E. Thompson of the United States District Court for the District of Virgin Islands, by designation, at the Clarkson S. Fisher Building & U.S. Courthouse, Courtroom 4W, 408 East State Street, Trenton, NJ 08608, at 10:00 a.m. on January 30, 2020 (the “Settlement Hearing”) to, among other things, determine whether the Court should: (i) certify the Settlement Class for the purposes of the Settlement only; (ii) approve the proposed Settlement as fair, reasonable, and adequate; (iii) dismiss the Action with prejudice as provided in the Stipulation and Agreement of Settlement, dated October 7, 2019 (”Stipulation”); (iv) approve the proposed Plan of Allocation for distribution of the Net Settlement Fund; and (v) approve Lead Counsel’s Fee and Expense Application.  The Court may change the date of the Settlement Hearing without providing another notice.  You do NOT need to attend the Settlement Hearing to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. If you have not yet received a Notice and Proof of Claim and Release form (”Claim Form”), you may obtain copies of these documents by visiting the website dedicated to the Settlement, www.AltisourceResidentialSettlement.com, or by contacting the Claims Administrator at:

Altisource Residential Corporation Securities Litigation
Claims Administrator
A.B. Data, Ltd.
P.O. Box 173012
Milwaukee, WI 53217
866-797-0862

Inquiries, other than requests for the Notice, Claim Form, or for information about the status of a claim, may also be made to Lead Counsel:

Nicholas I. Porritt
LEVI & KORSINSKY, LLP
1101 30th St. N.W., Suite 115
Washington, DC 20007
(212) 363-7500|

If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or received no later than February 22, 2020. If you are a Settlement Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court in the Action, whether favorable or unfavorable.

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice such that it is received no later than January 9, 2020. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund.

Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Lead Counsel’s Fee and Expense Application must be filed with the Court and mailed to counsel for the Parties in accordance with the instructions in the Notice, such that they are filed and receivedno later than January 9, 2020.

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR
DEFENDANTS’ COUNSEL REGARDING THIS NOTICE.

DATED: October 21, 2019

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT

DISTRICT OF THE VIRGIN ISLANDS

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Global Financial Technology Provider Equisoft Appoints Ruben Veerasamy as Head of the Caribbean Region

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MONTREAL, Oct. 30, 2019 /CNW Telbec/ – Equisoft, a leading global financial technology company providing advanced solutions for the insurance and wealth industries, today officially announced the appointment of Ruben Veerasamy as Senior Vice President, Caribbean.

Equisoft’s strategic objective is to diversify and accelerate their global expansion. The company has delivered significant strategic business value in the Caribbean market for more than 10 years, working with clients in Jamaica, The Bahamas, Bermuda and Trinidad, and is continuing to scale up rapidly. With the objective of developing a team dedicated to servicing Caribbean clients, the time has come to nominate a leader for the region.

Ruben has performed different delivery and sales roles at Equisoft for over 10 years. With over 20 years of experience in the IT industry, he brings a strong expertise in establishing and managing sustainable client, partner and employee relationships.

“Ruben’s ability to build connections and confidence has been instrumental in helping us develop a great reputation in the Caribbean over the years,” said Equisoft’s CEO, Luis Romero. “We already serve six companies with our insurance and wealth solutions, and we are shortlisted for multiple large opportunities in the region. Appointing a dedicated leader was the next logical step to make sure that we provide our customers with the level of support they are expecting from their technology partner.”

“Being active in the region since 2009, we have a deep understanding of the specific challenges that Caribbean insurers and financial institutions are facing, both from a business and technology standpoint,” said Ruben. “I’m looking forward to continuing to work closely with our customers to help them achieve their business goals.”

About Equisoft

Founded in 1994, Equisoft is a global provider of advanced digital solutions in life insurance and wealth management. Recognized as a valued partner by over 50 of the world’s leading financial institutions in 15 countries, Equisoft offers innovative front-end applications, extensive back-office services and a unique data migration expertise. The firm’s industry-leading products include CRM, financial needs analysis, asset allocation, quotes and illustrations, electronic application, agency management systems, as well as customer, agent and broker portals. Equisoft is also Oracle’s main global partner for the Oracle Insurance Policy Administration platform. With its business-driven approach, deep industry knowledge, state-of-the-art technology, and a growing team of over 400 specialized resources based in the USA, Canada, Latin America, South Africa and India, Equisoft helps financial institutions tackle any challenge in this new era of digital disruption. Website: equisoft.com

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Stone Pagamentos Co-Founder, Eduardo Pontes, acquires a minority stake in Tutuka

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Pontes and Tutuka looking to grow payments in Latin America and beyond

DUBAI, United Arab Emirates, Oct. 23, 2019 /PRNewswire-HISPANIC PR WIRE/ – Tutuka announced today that the Co-Founder of one of Latin America’s biggest fintechs, Stone Pagamentos, has acquired a minority stake in Tutuka.

Tutuka Logo

Tutuka is well known for its unique processor plus model which enables fintechs, mobile wallets, apps and banks across emerging markets to easily issue Mastercard and Visa payment products such as physical or virtual cards that are linked to the values in their customers’ wallets or accounts.

Pontes co-founded Stone Pagamentos in Brazil, which rapidly become one of the country’s largest acquirers and IPO’d on NASDAQ in 2018 with a valuation of US$8.8b.

The Latin American fintech market is growing at a rapid rate, with research conducted in 2018 by the Inter-American Development Bank and Finnovista showing a 66% growth of fintech startups from 2017 to 2018. With Tutuka’s deep experience in emerging markets and the ability to make payments happen quickly, easily and securely, the company is well-equipped to maximize the opportunities for growth in the region.

Tutuka has clients in over 19 countries across Africa, Asia, the Middle East and now Latin America.

Pontes’ experience, coupled with Tutuka’s capabilities as a payments enabler, will support Tutuka’s expansion into Latin America and help to drive financial inclusion in the region.

About Tutuka

Tutuka (www.tutuka.com) is a third-party payments enabler that makes payments happen by enabling our clients’ customers to pay with Mastercard and Visa cards and products. Tutuka enables fintechs, mobile wallets, apps and banks across Africa, Asia, the Middle East and Latin America to issue virtual and physical cards and other Mastercard and Visa payment products. Tutuka’s processor plus model allows our clients to easily, cost-effectively and quickly link into card schemes without the complexity and slow timelines normally associated with processors.

About Eduardo Pontes

Eduardo Pontes (https://investors.stone.co/advisory-board/eduardo-pontes) co-founded Stone Pagamentos (https://www.stone.com.br) which IPO’d on NASDAQ in 2018. Eduardo Pontes is now principal of Arpex Capital.

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Aireon Signs Agreement With COCESNA To Expand Global Air Traffic Surveillance To Central America

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MCLEAN, Virginia, Oct. 23, 2019 /PRNewswire-HISPANIC PR WIRE/ – Aireon LLC (Aireon) and COCESNA (Corporación Centroamericana de Servicios de Navegación Aérea) announced that they have signed an agreement to deploy space-based Automatic Dependent Surveillance-Broadcast (ADS-B) in Belize, Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. The agreement also establishes a strategic partnership to enhance the operations and collaboration of air traffic surveillance in the Central American region.

Spanning the entire Central American flight information region (FIR), COCESNA’s region encompasses more than 2.6 million square kilometers terrestrial airspace and extensive oceanic areas in the Caribbean Sea and Pacific Ocean. Its central location in the Americas positions COCESNA as the major air traffic control provider at the crossroads of the Caribbean, North, South and Central America.

“Aireon is thrilled to welcome COCESNA as a customer, extending the benefits of space-based air traffic surveillance through Central American airspace,” said Don Thoma, CEO, Aireon. “This agreement represents the beginning of a long-term partnership that will boost operations and efficiency in the region.”

In addition to deploying space-based ADS-B throughout the region and within its member States, this agreement establishes a partnership by which COCESNA can utilize the Aireon data to support its leading role in advancing operations across the region. The strategic partnership brings a greater level of collaboration to the existing agreement and also enables the use of space-based ADS-B data for airspace and traffic optimization projects such as the CANSO ATFM Data Exchange Network for the Americas (CADENA) initiative.

Mr. Juan Carlos Trabanino, Executive President of COCESNA, said, “We pride ourselves as being a regional leader in efficiency and safety. From surveillance of our airspace to optimization about our services provided across Central America, Aireon’s data will radically improve all aspects of our business that assures seamless air traffic management across our land and maritime sectors.  We look forward to the beginning of operations in the third quarter of 2020, and are pleased to work with Aireon in this important development for aviation in our region.”

“This partnership demonstrates that Aireon’s space-based ADS-B data generates significant near, medium and long-term value and operational benefits to their organization,” said Thoma.

About Aireon LLC
Aireon has deployed a space-based air traffic surveillance system for Automatic Dependent Surveillance-Broadcast (ADS-B) equipped aircraft throughout the entire globe. Aireon is harnessing next-generation aviation surveillance technologies that were formerly ground-based and, for the first time ever, is extending their reach globally to significantly improve efficiency, enhance safety, reduce emissions and provide cost savings benefits to all stakeholders. Space-based ADS-B surveillance covers oceanic, polar and remote regions, and augments existing ground-based systems that are limited to terrestrial airspace. In partnership with leading ANSPs from around the world, like NAV CANADA, the Irish Aviation Authority (IAA), Enav, NATS and Naviair, as well as Iridium Communications, Aireon is providing a global, real-time, space-based air traffic surveillance system, available to all aviation stakeholders. For more information, please visit www.aireon.com.

About COCESNA
The COCESNA (Corporación Centroamericana de Servicios de Navegación Aérea) is the non-profit, public service organization ensuring safe and efficient air navigation and aeronautical telecommunication to the Central American flight information region (FIR). The organization covers 2.6 million square kilometers of FIR, including six member states (Belize, Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua) and maritime areas in the Caribbean Sea and Pacific Ocean. For more information about COCESNA, visit: www.cocesna.org.

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Parkland announces launch of new JOURNIE™ Rewards Canadian customer loyalty program with CIBC as its strategic banking partner

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CaribPR Wire, CALGARY, Alberta, Oct. 17, 2019: Parkland Fuel Corporation (“Parkland”) (TSX:PKI) announced today that it is launching JOURNIE™, a nationwide rewards and customer loyalty program with CIBC as its strategic banking partner. JOURNIE™ will offer Canadians compelling fuel savings and merchandise offers and will launch in select Ontario, British Columbia and Quebec markets this fall with a full national rollout in early 2020.

JOURNIE™ members that link their personal CIBC credit and debit cards will enjoy fuel savings of three cents per litre at participating locations when paying with their CIBC card. Following its full national rollout, JOURNIE™ Rewards and the CIBC fuel savings will be available across Parkland’s coast-to-coast network of approximately 1,300 Chevron, Ultramar, Pioneer and Fas Gas sites. In addition to instant fuel savings, customers can simultaneously collect JOURNIE™ Rewards as well as rewards they already earn with their CIBC credit card.

“The launch of our JOURNIE™ Rewards program and CIBC’s participation is a major milestone for Parkland,” said Ian White, Senior Vice President of Strategic Marketing and Innovation. “By connecting our national network of fuel retail sites and On the Run and Marché Express convenience stores under a single proprietary rewards program with compelling fuel and merchandise offers, we are creating a powerful customer loyalty offer with nationwide scale.”

“This is an exciting loyalty program bringing together two innovative and customer focused companies that have an extensive nationwide retail presence and broad consumer reach,” added White. “In addition to enhancing our JOURNIE™ value proposition, our partnership with CIBC supports our strategy to grow our fuel sales volumes and increase foot traffic in our Canadian convenience stores.”

“This partnership builds on our exceptional credit card benefits, such as our four per cent cashback on fuel purchases with our CIBC Dividend® Visa Infinite* Card,” said Jeff Smith, Vice President, Client Loyalty Solutions and Partnerships, Personal Banking Products, CIBC.  “With JOURNIE™ Rewards, we’re making it radically simple for our clients to receive discounts at the pump, while helping them achieve their reward ambitions sooner.”

Parkland’s JOURNIE™ Rewards program is supported by a newly developed mobile app which will be available for anyone to download on iOS and Android platforms from October 23, 2019. For more information on JOURNIE™ and how to become a registered member please visit www.journie.ca.

Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking information and statements (collectively, “forward looking statements”). When used in this news release, the words “expect’’, ‘‘will’’, ‘‘could’’, ‘‘would’’, ‘‘supports’’ and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, launch of JOURNIE™ in early 2020, the availability of JOURNIE™ in Parkland’s coast-to-coast network, growth of fuel sales volumes and increase foot traffic in our Canadian convenience stores.

These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities laws. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to: failure to achieve the anticipated benefits of the JOURNIE™ loyalty program, general economic, market and business conditions, industry capacity, competitive action by other companies, refining and marketing margins, the ability of suppliers and/or strategic business partners to meet commitments, actions by governmental authorities and other regulators including increases in taxes, changes and developments in regulations, and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described under the headings “Cautionary Statement Regarding Forward-Looking Information” and “Risk Factors” in Parkland’s current Annual Information Form, and under the headings “Forward-Looking Information” and “Risk Factors” in Parkland’s Management’s Discussion and Analysis for the most recently completed financial period, each as filed on SEDAR and available on Parkland’s website at www.parkland.ca.

About Parkland
Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.

Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization. *JOURNIE and associated work marks are trade-marks of Parkland Fuel Corporation.

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Grupo Aeroportuario del Pacífico Initiates Operations at Kingston Airport

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GUADALAJARA, Mexico, Oct. 16, 2019 /PRNewswire-HISPANIC PR WIRE/ — Grupo Aeroportuario del Pacífico (”GAP”) initiates operations at the Norman Manley International Airport in the city of Kingston, Jamaica. This is the second airport that the Mexican airport group operates outside of its borders: the first one is Sangster Airport, in Montego Bay, also in Jamaica.

In accordance with the terms of the Contract signed on October 2018, 12 months were granted for the transition and 25 years for the concession. One of the Group’s commitments is to improve the infrastructure and the equipment of the airports it operates. Therefore, during the first 36 months, it expects to make an investment of US$ 60 million in extension and modernization works in the Norman Manley Airport.

At the formal presentation ceremony of the Airport’s operations, GAP’s Director General, Raúl Revuelta, reiterated Grupo Aeroportuario del Pacifico’s commitment to diversify its airport portfolio and affirmed that “to compete for the operation of Norman Manley Airport represents a strategic decision that will contribute towards GAP’s positioning and it will strengthen the development and growth of Jamaica’s main airports.”

Kingston Airport is the fourteenth airport operated by the Mexican airport group. At the end of 2018, this airport had assisted a total of 1.7 million passengers, and 1.4 million in the period comprised between January and September 2019. This represents an 8.4% growth compared to the same period on the previous year; in other words, practically 30% of the country’s total traffic.

Grupo Aeroportuario del Pacífico has developed a service-commitment culture in order to improve the flight experience. Additionally, it keeps close relationships with passengers, airlines, business developers, industry members and, particularly, authorities, in an attempt to contribute to the economic and social development of the communities where it operates.

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (”GAP”) is a Mexican company developing its activity in the airport sector. GAP operates in 12 international airports in Mexico and two in Jamaica, servicing over 330 destinations through 35 airlines. Its shares are listed both on the Mexico and the New York Stock Exchange.

In 2018, GAP serviced 44.9 million passengers, 10.4% more than in 2017.

The airports managed by Grupo Aeroportuario del Pacífico are located in:

  • Guadalajara and Tijuana, serving the main metropolitan areas.
  • Mexicali, Hermosillo, Los Mochis, Aguascalientes, Guanajuato and Morelia, serving developing medium-sized cities.
  • La Paz, Los Cabos, Puerto Vallarta, Manzanillo and Montego Bay, serving some of the most important tourist destinations in the country and the Caribbean.
  • On October 10, 2018, GAP signed the concession contract with the government of Jamaica in order to operate, modernize and expand the Norman Manley International Airport (”KIN”) located in the city of Kingston.

The airports managed by GAP in Mexico are owned by the Mexican government and have been allocated in a 50-year concession starting in 1998, as part of a domestic initiative to privatize and improve the quality and security of the country’s airport services.

In Jamaica, the government owns the Montego Bay Airport and the concession granted for its operation is for a 30-year period, which will conclude on April 2033. The Kingston Airport was granted for a 25-year concession. GAP took control of the operation and administration this past October 2019.

Grupo Aeroportuario del Pacífico believes in the value of each individual and seeks to trigger his or her potential through education. Better-educated Mexicans will raise their quality of life and contribute towards the country’s development. GAP, in line with its business model and through its Foundation, is committed on being a factor of change. We work on two strategic pillars: work with the community, through GAP Schools, and on training the airport community, with Community Training Centers.

Photo – https://mma.prnewswire.com/media/1012376/Grupo_Aeroportuario.jpg

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The Cruise Industry Remains Committed to Both the Recovery of Grand Bahama and Abaco and Bringing More Guests to the Unaffected Majority of The Bahamas

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MIRAMAR, Florida, Oct. 14, 2019 /PRNewswire-HISPANIC PR WIRE/ — While the world mourns the destruction of Abaco and Grand Bahama and seeks ways to help the destinations build back better, the cruise industry continues to prove its commitment. Just a month after the historic event, Florida-Caribbean Cruise Association (FCCA), the trade association that represents the mutual interests between the cruise industry and Caribbean and Latin American destinations and stakeholders, and its Member Lines, which operate more than 95 percent of the global ocean cruising capacity, have already provided and/or raised $8 million in donation pledges, more than 10 million pounds of food and supplies, 20,000 meals a day, hundreds of millions of dollars in accelerated investment plans and hundreds of thousands of marketing dollars focused on educating that most of The Bahamas is open, including 14 of its most-visited islands that are welcoming guests every day, and the best way consumers can help is to visit.

“Though we still mourn for all those impacted in Abaco and Grand Bahama, it is humbling and heartwarming to see our Member Lines’ enormous effort to not only provide the necessary relief, but also work with those in the destination toward sustainable recovery,” said Michele Paige, president, FCCA. “On behalf of FCCA, we are honored to help support that recovery in any way we can, and currently one of the best things any of us can do is visit The Bahamas, as nearly half of its GDP relies on tourism, and broadcast the message that most of its islands are open and welcoming guests every day.”

FCCA Member Lines have already donated and/or raised $8 million in relief efforts for The Bahamas, while also launching efforts to collect and provide support, resulting in more than 10 million pounds of food and supplies – filling over 250 shipping containers – by Carnival Corporation; 20,000 meals per day, as well as water, medical supplies, generators, and a team of specially trained employees and volunteers to assist with logistics and food and beverage efforts by Royal Caribbean Cruises Ltd.; 400 pallets of humanitarian aid – along with 300 qualified volunteer and 150 Bahamians – on a single relief mission by Bahamas Paradise Cruise Line; MSC Group using its cargo and cruise resources to help, with a focus on providing semi-permanent prefabricated modular housing; and Disney Cruise Line and Norwegian Cruise Line Holdings are also using their cruise ships to deliver supplies and support.*

Additionally, FCCA Member Lines have sent high-level delegations to work directly toward both providing the most impactful relief and building toward sustainable recovery, while also reaffirming and accelerating investment projects that represent $455 million by Carnival Corporation and RCCL.

FCCA Member Lines also worked with the destination to relaunch cruise tourism and reinject its economic benefit as soon as possible, with cruise tourism calculated to have generated $405.75 million, in addition to 9,004 jobs paying $155.71 million in wage income, in The Bahamas during the 2017-18 cruise season and one average cruise call to the destination representing more than $650,000 in local economic benefits.

FCCA included The Bahamas in its award-winning, multi-faceted marketing campaign, Caribbean Is Open / Caribbean for Everyone, which began in September 2017 following Hurricanes Irma and Maria and generated more than 5.77 billion impressions, while showing a measurable improvement in Caribbean cruise bookings, between Oct. 2, 2017 – Oct. 28, 2018.

For initiatives tied to The Bahamas, focused on educating that most of The Bahamas is open, including 14 of its most-visited islands that are welcoming guests every day, and the best way consumers can help is to visit, as of Oct. 11, the efforts have already generated an audience of 78,656,435; 490 media placements; and promoted content with 13,873 clicks, 17,987 engagements and 150,527 video views with 59,357 minutes viewed, on track for more than 200,000 views by the end of October on social media alone – and other planned initiatives including the cover story in Travel & Cruise, the official magazine of the cruise industry, and sponsored e-mail content in partnership with Cruise Lines International Association (CLIA).

Additionally, FCCA has remained in constant contact with The Bahamas, while leveraging its resources throughout the industry to help the destination and its people in any way possible, including assisting to coordinate relief efforts and meetings, as well as providing numerous ways for Bahamian locals to further capitalize on the cruise industry’s economic potential.

Many of those opportunities and discussions will be engaged at the upcoming FCCA Cruise Conference & Trade Show, the largest and only official cruise conference and trade show in the Caribbean. With more than 150 high-level executives, including a record number of chairmen and above, from FCCA Member Lines on hand for the series of meetings, workshops and networking opportunities from Oct. 21-25, the #BahamasStrong delegation will have the chance to work directly with the cruise industry, and FCCA has coordinated specialized meetings and events for the delegation.

*For more information about individual FCCA Member Line relief efforts, please visit www.f-cca.com/relief.

About Florida-Caribbean Cruise Association (FCCA)
Created in 1972, FCCA is a not-for-profit trade organization that provides a forum for discussion on tourism development, ports, safety, security, and other cruise industry issues and builds bilateral relationships with destinations’ private and public sectors. By fostering an understanding of the cruise industry and its operating practices, FCCA works with governments, ports and private sector representatives to maximize cruise passenger, crew and cruise line spending, as well as enhance the destination experience and increase the amount of cruise passengers returning as stay-over visitors. For more information, visit F-CCA.com and @FCCAupdates on Facebook, Instagram and Twitter.

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Jimmy and Rosalynn Carter: 2020 Habitat for Humanity work project to take place in Dominican Republic

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NASHVILLE, Tennessee, Oct. 11, 2019 /PRNewswire-HISPANIC PR WIRE/ — The Dominican Republic will become the 15th country to host Habitat for Humanity’s Jimmy & Rosalynn Carter Work Project, the former U.S. president announced today. The announcement of the November 2020 build came at the conclusion of the 36th Carter Work Project in Nashville.

Former President Jimmy Carter and former First Lady Rosalynn Carter mark the announcement of the 2020 Carter Work Project by passing a ceremonial trowel to Cesarina Fabián and Celso Marranzini representing Habitat for Humanity Dominican Republic.

Since beginning their work with Habitat for Humanity in 1984, President and Mrs. Carter have helped to build, renovate and repair 4,390 homes in 14 countries alongside more than 104,000 volunteers through their annual work project. Since its founding in 1976, Habitat has served more than 22 million people around the world.

“We are honored to host the 2020 Jimmy & Rosalynn Carter Work Project in the Dominican Republic,” said Cesarina Fabián, national director of Habitat for Humanity Dominican Republic. “President and Mrs. Carter are shining examples of service. We are so grateful to their commitment to building a world where everyone has a safe and decent place to live.”

The 2020 build will mark the third time the project has been hosted in the Caribbean. The former president and first lady traveled to Haiti to build alongside homeowners and hundreds of other volunteers in 2011 and 2012.

According to the Dominican Republic’s National Statistics Office, the country faces a deficit of more than 2.1 million housing units, which increases by 50,000-60,000 every year. About 60 percent of the housing deficit is due to the quality and safety of the housing available, and about 40 percent is due to the lack of available homes.

This week in Nashville, the Carters joined hundreds of other volunteers to build 21 new Habitat for Humanity homes. An additional 12 new single-family homes and 26 new townhomes will be constructed by 2021 with support of funding raised for the project. In total, funds raised through the 2019 Carter Work Project will have served 59 Nashville families.

Photos of the Carter Work Project in Nashville and previous projects are available at habitat.ngo/CWPphotos.

About Habitat for Humanity

Driven by the vision that everyone needs a decent place to live, Habitat for Humanity began in 1976 as a grassroots effort on a community farm in southern Georgia. The Christian housing organization has since grown to become a leading global nonprofit working in local communities across all 50 states in the U.S. and in more than 70 countries. Families and individuals in need of a hand up partner with Habitat for Humanity to build or improve a place they can call home. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage. Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. Through shelter, we empower. To learn more, visit habitat.org.

About Habitat for Humanity Dominican Republic

With the vision of a world where everyone has a decent place to live, Habitat for Humanity Dominican Republic empowers families to build strength, stability and self-reliance through shelter. Since its creation in 1986, Habitat for Humanity Dominican Republic has made more than 26,000 housing solutions and impacted around 135,000 people. Habitat Dominican Republic contributes to its country by improving the living conditions of the families that do not have access to a decent place to live, either because they do not own a house or because their housing is not adequate. This goal is achieved through the execution of various programs such as construction of new homes, financial education, response and disaster risk reduction activities, capacity building on construction for families and masons, promoting access to microfinance products for house repair and improvements to low income families with technical construction assistance and the helping hands of volunteers. Through shelter, we empower. To learn more, visit habitatdominicana.org.

Habitat for Humanity logo.

Photo – https://mma.prnewswire.com/media/1009869/Habitat_for_Humanity_International.jpg

Logo – https://mma.prnewswire.com/media/95215/habitat_for_humanity_logo.jpg

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Doing Business with the Cruise Industry: Easy as FCCA

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MIRAMAR, Florida, Oct. 9, 2019 /PRNewswire-HISPANIC PR WIRE/ — Building business and relationships with top executives from FCCA Member Lines, which operate more than 95 percent of the global ocean cruising capacity, will take center stage at the FCCA Cruise Conference & Trade Show, the largest and only official cruise conference and trade show in the Caribbean. Taking place in San Juan, Puerto Rico from Oct. 21-25 and already having the most-ever presidents and above from FCCA Member Lines confirmed in its history, the event will offer meetings and workshops along with networking, exhibiting and sponsorship opportunities for cruise tourism stakeholders to target some of the industry’s most influential players.

“We cannot be more honored and excited to already have the most presidents and above from FCCA Member Lines confirmed in the event’s over 25-year history,” said Michele Paige, president, FCCA. “This is a clear sign of cruise lines’ interest in proactively working with destinations and stakeholders, which is the event’s main goal and reason for creation, and every attendee will have an opportunity to positively impact their cruise tourism business.”

Thirteen presidents and above from FCCA Member Lines have already registered – the most in the event’s history – as part of the more than 100 total high-level executives, with projections calling for more than 150 cruise executives on hand for the Conference’s series of meetings, workshops and networking functions, as well as the Trade Show, which will offer exhibiting opportunities along with a host of private receptions and the most meetings between exhibitors and cruise executives in its history, including the first dedicated session for Trade Show Pavilion holders and Shorex executives.

Additionally, a wealth of opportunities are available to capitalize on the influential audience – from event signage and sponsorships to hosting private functions such as dinner with a selected FCCA Member Line CEO.

For more information and registration, please visit www.F-CCA.com/Conference. For Trade Show and sponsorship opportunities, please e-mail TradeShow@F-CCA.com or call 954-441-8881.

FCCA Member Line Presidents and Above Available for Meeting, Networking and Sponsorship Opportunities Including Private Dinners
Micky Arison, Chairman, Carnival Corporation, FCCA
Orlando Ashford, President, Holland America Line
Michael Bayley, President & CEO, Royal Caribbean International
Carol Cabezas, COO, Azamara
Arnold Donald, President & CEO, Carnival Corporation
Christine Duffy, President, Carnival Cruise Line
Roberto Fusaro, President, MSC Cruises USA
Adam Goldstein, Vice Chairman, Royal Caribbean Cruises
Tom McAlpin, President & CEO, Virgin Voyages
Jason Montague, President & CEO, Regent Seven Seas Cruises
Richard Sasso, Chairman, MSC Cruises USA
Pierfrancesco Vago, Executive Chairman, MSC Cruises
Jeff Vahle, President, Disney Signature Experiences

About Florida-Caribbean Cruise Association (FCCA)
Created in 1972, FCCA is a not-for-profit trade organization that represents the mutual interests of the cruise industry and destinations’ private and public sectors. By building bilateral relationships with cruise tourism stakeholders and providing them a forum to work with executives from its Member Lines, FCCA fosters bilateral success for all parties. For more information, visit F-CCA.com and @FCCAupdates on Facebook, Instagram and Twitter.

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