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HomeMy WebLinkAboutThe Lucknow Sentinel, 2014-02-05, Page 66 Lucknow Sentinel • Wednesday, February 5, 2014 Increasing ownership CONTINUED FROM > PAGE 3 The aggregate purchase price for Cameco's interest in Bruce Power and certain related entities is $450 million, the uranium fuel producer said in a media release. The effective date for the sale was Dec. 31, 2013. "We believe the best option for our shareholders is to sell our interest in Bruce Power and continue to rein- vest in our core uranium business where we see strong potential for growth," said Tim Gitzel, Cameco's president and CEO. "We are proud of Cameco's role in the creation and success of Bruce Power which has become a key part of Ontario's elec- tricity supply:' Closing of the transaction is sub- ject to exercise or waiver of the right of first offer held by the other three limited partners that are considering whether to exercise their options related to additional ownership. Those companies include TransCan- ada Pipelines Limited, the Power Workers' Union and the Society of Energy Professionals. Certain regulatory approvals are also required. "We are very pleased to have the opportunity to increase our owner- ship in Bruce Power," said Michael Rolland, president and CEO of Bore- alis. "Bruce Power is an investment that continues to fit with our long- term strategy to invest in core, large- scale and high-quality infrastructure assets. It also plays a critical role in meeting the supply needs of the province of Ontario" Bruce Power is Canada's largest public-private partnership as the Bruce site assets remain owned by the province, operated by Bruce Power and the company's partners meet investment requirements, which has totalled $7 billion since 2001. The price of power is controlled and sold through contract with the Ontario Power Authority (OPA) and Bruce Power said in 2013, was 30% below the average cost of elec- tricity in province, "providing fami- lies and businesses with stable, low prices' "With this ownership change now in place, Bruce Power will continue to work to put the policy role outlined in Ontario's LTEP for the site into action by advancing discussions with the OPA," said Hawthorne. "We will continue to focus on providing the people of Ontario with a reliable source of affordable electricity and we appreciate the confidence expressed in Bruce Power's future from Ontario's largest pension plan." Borealis is a leader in direct infrastructure investing with over a decade of investment experience. Borealis manages approximately $10 billion in OMERS equity capi- tal through investments in a diver- sified portfolio of large-scale infra- structure assets exhibiting stability and strong cash flows, in sectors including energy, transportation and government -regulated serv- ices. It has offices in Toronto, Lon- don and New York. Borealis is the infrastructure investment arm of OMERS, one of Canada's largest pension funds with net assets of more than $60 billion and an AAA credit rating. OMERS is one of Canada's larg- est pension funds with over $60 billion in net assets. It provides first-class pension administration and innovative products and services to over 430,000 members. Approximately one in every 20 employees working in the province of Ontario is an OMERS member. Through the OMERS Worldwide brand, our team of investment professionals uses a direct drive, active manage- ment investment strategy to invest in public and private market assets, including publicly -traded equities, fixed-income, infrastructure, pri- vate equity and real estate. For more information visit www. omersworldwide.com. dpl. 41 (i., dilkotrA 1100. drit SO Orli CDOIllYeThoilielaT hizke 'four °WTI C. odiers afkl tiuit: (Mirror ito a Arek0 largito4 51„ CiffiRICH 52423i Bluewater trustee wants the gap closed for First Nations students Mary Golem QM! Agency Bluewater school board trus- tees want "the inequity stopped and the gap closed" when it comes to education funding for First Nations students in Ontario. "Things we take for granted that support student learning - libraries, sports, computers - they're not available to our First Nations' students and that's just wrong," Kincardine -area trustee Jan Johnstone said, after putting forth a motion calling for the Prime Minister and Minister of Aboriginal and Northern Affairs Canada for a "full statutory guar- antee for funding for education for First Nation children that is stable, sustainable and needs - based" for both current and future generations of First Nation children. Johnstone, the board's rep on the Ontario Public School Boards Association, says OPSBA has endorsed a Charter of Com- mitment on First Nation, Metis .-POLICE BRIEFS Man caught driving with suspended license A 57 -year-old man is facing a charge of Driving While Under Suspension following a traffic stop last Monday. Just before 11:30 p.m. a Huron County Ontario Provincial Police (OPP) officer was patrolling on Amberley Road in Whitechurch when he observed a GMC Sierra being driven on the closed roadway. The officer stopped the driver and completed a driver's licence check at the scene. Investigation determined the driver currently held a suspended driver's licence. As a result, a 57 -year-old man, from Huron -Kinloss was charged with Driving While Under Suspension. He has a court appearance scheduled for Ontario Provincial Offences Court in Goderich on April 1, 2014. His motor vehicle was towed from the scene. and Inuit Education for K-12 stu- dents which Johnstone says is consistent with the First Nation, Metis and Inuit Education Policy Framework "and puts forth a strength -based set of values to promote success." Johnstone wanted Bluewater trustees to endorse the same charter. "We need an attitude adjust- ment when it comes to First Nation education funding," Johnstone said, saying there is strong local support for adopt- ing the Charter of Commitment. "It's been 25 years since it (and the funding formula) has been updated - it is long overdue One of two First Nations trus- tees on the board, Theressa Roote said many people don't understand "the hard life we have faced, and the many chal- lenges. .. it is important for all to understand our shared his- tory and then build a better sys- tem for our future children. Part- nerships and relationships are important now and in the future." Both Roote and Johnstone said efforts must also be made to "confront the knowledge gap" that exists with both teachers and students. Funding for First Nations schools is determined by Abo- riginal Affairs and Northern Development Canada but John- stone maintains "they are using an outdated national funding formula." Chronic underfunding of First Nations schools created a First Nation education funding shortfall of $747 million in 2010- 11 and a cumulative funding shortfall of over $3 billion since 1996 when the formula was last updated. The funding shortfall, John- stone noted, does not include costs needed to support other educational components such as libraries and technology. In 1996, on average $5,544 per student was provided to First Nations students while provin- cial schools received $6,376. In 2010-11, First Nations' funding was at $7,101 while provincial funding was $10,578 per student. Submitted How to make good use of the snow William Dickie with granddaughters Ever Chow (left), Lachlan Chow (inside) made use of a stormy morning recently by making an igloo. Pet Snoop, helped. #cf.., y c • i 3 • 4: c Miff] The Lucknow Sentinel Birthday Club Tess Carter February 8, 2006 - 8 years old Your child can be a member , of the Sentinel's birthday club ' call 519-528-2822 to register Liih' oknow Swilinel 619 Campbell Street 519-528-2822 The price of power is controlled and sold through contract with the Ontario Power Authority (OPA) and Bruce Power said in 2013, was 30% below the average cost of elec- tricity in province, "providing fami- lies and businesses with stable, low prices' "With this ownership change now in place, Bruce Power will continue to work to put the policy role outlined in Ontario's LTEP for the site into action by advancing discussions with the OPA," said Hawthorne. "We will continue to focus on providing the people of Ontario with a reliable source of affordable electricity and we appreciate the confidence expressed in Bruce Power's future from Ontario's largest pension plan." Borealis is a leader in direct infrastructure investing with over a decade of investment experience. Borealis manages approximately $10 billion in OMERS equity capi- tal through investments in a diver- sified portfolio of large-scale infra- structure assets exhibiting stability and strong cash flows, in sectors including energy, transportation and government -regulated serv- ices. It has offices in Toronto, Lon- don and New York. Borealis is the infrastructure investment arm of OMERS, one of Canada's largest pension funds with net assets of more than $60 billion and an AAA credit rating. OMERS is one of Canada's larg- est pension funds with over $60 billion in net assets. It provides first-class pension administration and innovative products and services to over 430,000 members. Approximately one in every 20 employees working in the province of Ontario is an OMERS member. Through the OMERS Worldwide brand, our team of investment professionals uses a direct drive, active manage- ment investment strategy to invest in public and private market assets, including publicly -traded equities, fixed-income, infrastructure, pri- vate equity and real estate. For more information visit www. omersworldwide.com. dpl. 41 (i., dilkotrA 1100. drit SO Orli CDOIllYeThoilielaT hizke 'four °WTI C. odiers afkl tiuit: (Mirror ito a Arek0 largito4 51„ CiffiRICH 52423i Bluewater trustee wants the gap closed for First Nations students Mary Golem QM! Agency Bluewater school board trus- tees want "the inequity stopped and the gap closed" when it comes to education funding for First Nations students in Ontario. "Things we take for granted that support student learning - libraries, sports, computers - they're not available to our First Nations' students and that's just wrong," Kincardine -area trustee Jan Johnstone said, after putting forth a motion calling for the Prime Minister and Minister of Aboriginal and Northern Affairs Canada for a "full statutory guar- antee for funding for education for First Nation children that is stable, sustainable and needs - based" for both current and future generations of First Nation children. Johnstone, the board's rep on the Ontario Public School Boards Association, says OPSBA has endorsed a Charter of Com- mitment on First Nation, Metis .-POLICE BRIEFS Man caught driving with suspended license A 57 -year-old man is facing a charge of Driving While Under Suspension following a traffic stop last Monday. Just before 11:30 p.m. a Huron County Ontario Provincial Police (OPP) officer was patrolling on Amberley Road in Whitechurch when he observed a GMC Sierra being driven on the closed roadway. The officer stopped the driver and completed a driver's licence check at the scene. Investigation determined the driver currently held a suspended driver's licence. As a result, a 57 -year-old man, from Huron -Kinloss was charged with Driving While Under Suspension. He has a court appearance scheduled for Ontario Provincial Offences Court in Goderich on April 1, 2014. His motor vehicle was towed from the scene. and Inuit Education for K-12 stu- dents which Johnstone says is consistent with the First Nation, Metis and Inuit Education Policy Framework "and puts forth a strength -based set of values to promote success." Johnstone wanted Bluewater trustees to endorse the same charter. "We need an attitude adjust- ment when it comes to First Nation education funding," Johnstone said, saying there is strong local support for adopt- ing the Charter of Commitment. "It's been 25 years since it (and the funding formula) has been updated - it is long overdue One of two First Nations trus- tees on the board, Theressa Roote said many people don't understand "the hard life we have faced, and the many chal- lenges. .. it is important for all to understand our shared his- tory and then build a better sys- tem for our future children. Part- nerships and relationships are important now and in the future." Both Roote and Johnstone said efforts must also be made to "confront the knowledge gap" that exists with both teachers and students. Funding for First Nations schools is determined by Abo- riginal Affairs and Northern Development Canada but John- stone maintains "they are using an outdated national funding formula." Chronic underfunding of First Nations schools created a First Nation education funding shortfall of $747 million in 2010- 11 and a cumulative funding shortfall of over $3 billion since 1996 when the formula was last updated. The funding shortfall, John- stone noted, does not include costs needed to support other educational components such as libraries and technology. In 1996, on average $5,544 per student was provided to First Nations students while provin- cial schools received $6,376. In 2010-11, First Nations' funding was at $7,101 while provincial funding was $10,578 per student. Submitted How to make good use of the snow William Dickie with granddaughters Ever Chow (left), Lachlan Chow (inside) made use of a stormy morning recently by making an igloo. Pet Snoop, helped.