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News Article | February 21, 2017
Site: marketersmedia.com

The Otto Assets lie roughly eight kilometres southwest of Kirkland Lake and proximate to the former producing Swastika Mine, Ontario's first producing gold mine (1907). Infrastructure is readily available. The Otto Assets can be directly accessed off the TransCanada Highway through the town of Swastika. Green Swan's CEO, Peter M. Clausi, said, "Our team took an undervalued forgotten cobalt/gold asset in Sudbury and created a great real shareholder value from it. We intend to do the same with the Otto Assets." The most recent work on the Otto Assets was a soil geochemistry report in 2012. Gold, palladium, copper, zinc, nickel, and lead values were returned. Page 11 of the report concluded: "Further prospecting and geochemical surveys to the northeast and a further extension along trend may be warranted. It appears that average background levels increased to the east, and several anomalies occurred at the northeast boundary of the sampling area." (MNDM Report, Soil Geochemistry and Prospecting on Claim Numbers: 4246905, 4250913, 4251194; Otto Township; Larder Lake Mining Division. L.Currah, 2012.) Green Swan has not performed any work on the Otto Assets, which have been explored by third parties since 1975. Historic work has included prospecting, line cutting, limited diamond drilling, VLF and magnetic surveys, mapping, trenching, and soil sampling. Some but not all of the results from third party work are available to Green Swan. Green Swan cannot speak to the accuracy or thoroughness of historic work without further research and analysis. Green Swan purchased the Otto Assets from an arm's length prior owner who encountered challenges advancing exploration on them. One of the difficulties was an inability to enter into economic exploration agreements with local communities, including First Nations. That prior owner had applied for a permit to drill from 11 to 20 pads, conduct mechanical excavation, and carry out other mining-related activities, which permit has been stalled for some time in the Ontario Ministry of Northern Development and Mining. The Otto Assets are on "Special Status" pending the resolution of the permit application, but in Green Swan's opinion, it was highly unlikely the former owner would have been able to successfully advance its permit. Green Swan's management has much experience in dealing with the Ontario permitting process, and believes it can successfully advance the permit process with local communities, First Nations and MNDM. Green Swan is unable to state how long this process will take or what resources will be needed. However, as with its Sudbury cobalt-gold asset, Green Swan has demonstrated an ability to source and acquire lower visibility mining assets that can generate significant shareholder value. The consideration for the acquisition is the granting of a 10-year Net Smelter Returns Royalty, at 3% for the first 200,000 ounces of gold and 2% thereafter. During the term of the Net Smelter Returns Royalty, if Green Swan files a NI43-101 compliant resource estimate of at least one million ounces of gold grading at least 2 grams of gold per tonne, Green Swan will at that time immediately owe the vendor a one-time payment of USD$250,000. This acquisition is an Exempt Transaction and stock exchange approval was not required. Green Swan intends to continue acquiring highly prospective assets in good mining jurisdictions, and is focusing on cobalt acquisitions. Green Swan Capital Corp. is a Canadian mineral exploration company with a proven leadership team. Green Swan is well-poised to further deliver real value to its shareholders. On Behalf of the Board of Directors, GREEN SWAN CAPITAL CORP. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


News Article | February 16, 2017
Site: www.marketwired.com

TORONTO, ONTARIO--(Marketwired - Feb. 16, 2017) - Dividend 15 Split Corp. declares its 155th consecutive monthly distribution of $0.10000 for each Class A share ($1.20 annually) and $0.04375 for each Preferred share ($0.525 annually). Distributions are payable March 10, 2017 to shareholders on record as at February 28, 2017. Since inception Class A shareholders have received a total of $19.00 per share and Preferred shareholders have received a total of $6.80 per share inclusive of this distribution, for a combined total of $25.80. Dividend 15 invests in a high quality portfolio of leading Canadian dividend-yielding stocks as follows: Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, CI Financial Corp., BCE Inc., Manulife Financial, Enbridge, Sun Life Financial, TELUS Corporation, Thomson Reuters Corporation, TransAlta Corporation, TransCanada Corporation.


Patent
TransCanada | Date: 2013-08-30

The disclosure describes methods, devices and tools useful in the non-destructive inspection and the characterization of mechanical damage such as dents in pipelines. Methods, devices and tools described herein make use of a strain severity indication combined with a material loss indication such as magnetic flux leakage to determine whether a dent comprises at least one of a crack, a gouge and corrosion. The characterization of the mechanical damage in dents of pipes may be used to determine whether and when any corrective or preventive action should be carried out.


News Article | February 17, 2017
Site: www.marketwired.com

CALGARY, ALBERTA--(Marketwired - 17 fév. 2017) - Communiqué de presse - TransCanada Corporation (TSX:TRP)(NYSE:TRP) (« TransCanada ») a déposé aujourd'hui les documents suivants auprès des Autorités canadiennes en valeurs mobilières : Par ailleurs, TransCanada a déposé son formulaire 40-F auprès de la Securities and Exchange Commission des États-Unis pour l'exercice clos le 31 décembre 2016. Les copies des documents déposés sont disponibles sur les sites Web sedar.com et sec.gov (pour le formulaire 40-F), ainsi qu'à la section Centre des investisseurs du site Web de la Société www.transcanada.com. Les actionnaires peuvent demander une copie papier gratuite des états financiers consolidés vérifiés en téléphonant à TransCanada au 1 800 661-3805. Forte de plus de 65 années d'expérience, la société TransCanada est l'un des chefs de file dans les secteurs du développement responsable et de l'exploitation fiable d'infrastructures énergétiques en Amérique du Nord, incluant des gazoducs et des oléoducs, ainsi que des installations de production d'énergie électrique et de stockage de gaz. TransCanada exploite un réseau de gazoducs qui s'étend sur plus de 91 500 kilomètres (56 900 miles), exploitant presque tous les grands bassins d'approvisionnement gazier d'Amérique du Nord. TransCanada est le plus important fournisseur de services de stockage de gaz et de services connexes du continent avec une capacité de stockage de gaz de 18,4 milliards de mètres cubes (653 milliards de pieds cubes). Un important producteur d'électricité indépendant, TransCanada possède plus de 10 700 mégawatts de production d'énergie au Canada et aux États-Unis. TransCanada est également le promoteur et l'exploitant de l'un des principaux réseaux de pipelines transportant des liquides en Amérique du Nord, d'une longueur de 4 300 kilomètres (2 700 miles), reliant les sources croissantes d'approvisionnement en pétrole et liquides du continent aux marchés et raffineries clés. Les actions ordinaires de TransCanada se négocient sous le symbole TRP aux bourses de Toronto et de New York. Consultez le site TransCanada.com et notre blogue pour en savoir davantage, ou suivez-nous sur les réseaux sociaux et sur 3BL Media. Le présent communiqué de presse peut contenir certains énoncés prospectifs sujets à des incertitudes et à des risques importants (ces énoncés sont généralement accompagnés de mots comme « anticipe », « s'attend à », « croit », « pourrait », « aura », « devrait », « estime », « prévoit » ou d'autres termes similaires). Tous les énoncés prospectifs contenus dans le présent document visent à fournir, aux porteurs de titres de TransCanada et aux investisseurs éventuels, des informations relatives à TransCanada et à ses filiales, y compris l'évaluation, par la direction, des plans et des perspectives financières et opérationnelles futures de TransCanada et de ses filiales. Tous les énoncés prospectifs sont fondés sur les convictions et les hypothèses de TransCanada reposant sur les renseignements accessibles au moment de la formulation de ces énoncés et, par conséquent, ne constituent pas des garanties quant à la performance future de la société. Les lecteurs sont invités à ne pas accorder une confiance excessive à ces énoncés prospectifs, fournis à la date de leur mention dans le présent communiqué de presse, et de ne pas utiliser les renseignements prospectifs ou les perspectives financières à d'autres fins que leur but. La société TransCanada n'est aucunement tenue d'actualiser ou de réviser tout énoncé prospectif, sauf si la loi l'exige. Pour tout renseignement complémentaire sur les hypothèses présentées ainsi que sur les risques et incertitudes pouvant causer une différence entre les résultats réels et ceux prévus, veuillez vous reporter au rapport trimestriel aux actionnaires en date du 11 février 2017 et au rapport annuel 2016 de TransCanada déposés sous le profil de TransCanada sur le site de SEDAR, à l'adresse www.sedar.com, et auprès de la Securities and Exchange Commission des États-Unis, à l'adresse www.sec.gov.


KAMLOOPS, BRITISH COLUMBIA--(Marketwired - Feb. 17, 2017) - Investing in modern, safe and efficient roadways is critical to connecting communities, helping businesses efficiently move their goods to domestic and international markets, and building a strong economic future for all Canadians. Today, the Honourable Amarjeet Sohi, Minister of Infrastructure and Communities, and B.C. Transportation and Infrastructure Minister Todd Stone, were in Kamloops to announce $469.4 million to expand and upgrade two major sections of the TransCanada Highway. Out of this amount, the Kicking Horse Canyon project accounts for nearly $450 million, while the Donald to Forde Station section of highway accounts for over $19.4 million. Highway 1 through Kicking Horse Canyon will be realigned and expanded to four lanes with median barriers and widened shoulders. Improving this section will also require a combination of bridges, retaining walls, rock catchment ditches and other measures to reduce rock fall hazards. Work on the second section of Highway 1 approximately 20 kilometres west of Golden, from Donald to Forde Station Road, will involve expanding the highway to four lanes and improving access at the weigh scale. Once completed, these projects will improve safety, access and traffic flow for local residents, tourists and commercial drivers. "The Government of Canada recognizes that strategic investments in public infrastructure help connect people, and create growth and middle class jobs. This major transportation infrastructure project in British Columbia will benefit residents, businesses, and tourists, while fostering long-term prosperity across the region. We will continue working in close collaboration with British Columbia to ensure we make smart infrastructure investments that help build the Canada of tomorrow." The Honourable Amarjeet Sohi, Minister of Infrastructure and Communities "The Trans-Canada Highway is our province's main connection between the Pacific Gateway and the rest of Canada, and the growth of our economy and communities depends on having a strong transportation network. Thanks to our valuable partnerships with Canada, local communities and First Nations, these projects will help traffic move more safely and efficiently, communities will be better connected, and businesses can distribute their products efficiently throughout the province, as well as to our ports and borders beyond." Details on the Donald to Forde Station Road and Kicking Horse Canyon projects Follow the work of the British Columbia Ministry of Transportation and Infrastructure


News Article | February 15, 2017
Site: www.ogj.com

Canada’s National Energy Board (NEB) will restart its hearing on TransCanada Corp.’s Energy East crude pipeline from the beginning. The new hearing panel assigned Jan. 9, 2017, to review the Energy East and Eastern Mainline applications has voided all decisions made by the previous panel. These decisions will be removed from the official hearing record.


News Article | February 22, 2017
Site: www.marketwired.com

CALGARY, ALBERTA--(Marketwired - Feb. 22, 2017) - News Release - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced it has launched an Open Season for binding commitments on a revised, long-term, fixed-price proposal to flow natural gas along the Canadian Mainline from the Empress receipt point in Alberta to the Dawn hub in Southern Ontario. The launch of this Open Season follows ongoing discussions with Western Canadian Sedimentary Basin (WCSB) producers, and is expected to close on March 9, 2017. "This long-term fixed price proposal for the Canadian Mainline builds on our past offering and input from our customers. We are pleased to offer this opportunity for WCSB producers to compete with emerging supplies of natural gas from the Marcellus and Utica basins," said Stephen Clark, TransCanada's senior vice president and general manager, Canadian Natural Gas Pipelines. "TransCanada continues to offer a 10-year term and a targeted total subscription of 1.5 PJ / day at a simplified single rate toll of $0.77/GJ," added Clark. "While we have held extensive discussions with customers and have received a positive response, it is important that these threshold conditions are met for TransCanada to advance this offering." This proposal provides WCSB producers with lower cost access to the high-value markets served by the Dawn trading hub and will help them address changing market dynamics. This proposal does not impact current contracts that are already in place on the Canadian Mainline system. The targeted in-service date is November 1, 2017, and details of the Dawn Long Term Fixed Price open season can be found here. Provision of the service is conditional on, among other things, TransCanada receiving National Energy Board approval on terms and conditions satisfactory to TransCanada. Interested parties may submit binding bids for transportation capacity during the Open Season which will close on March 9 at 11 a.m. MST. With more than 65 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TransCanada operates a network of natural gas pipelines that extends more than 91,500 kilometres (56,900 miles), tapping into virtually all major gas supply basins in North America. TransCanada is the continent's leading provider of gas storage and related services with 653 billion cubic feet of storage capacity. A large independent power producer, TransCanada currently owns or has interests in over 10,700 megawatts of power generation in Canada and the United States. TransCanada is also the developer and operator of one of North America's leading liquids pipeline systems that extends over 4,300 kilometres (2,700 miles), connecting growing continental oil supplies to key markets and refineries. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. Visit TransCanada.com and our blog to learn more, or connect with us on social media and 3BL Media. This publication contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Forward-looking statements in this document are intended to provide TransCanada security holders and potential investors with information regarding TransCanada and its subsidiaries, including management's assessment of TransCanada's and its subsidiaries' future plans and financial outlook. All forward-looking statements reflect TransCanada's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release, and not to use future-oriented information or financial outlooks for anything other than their intended purpose. TransCanada undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the Quarterly Report to Shareholders dated February 16, 2017 and 2016 Annual Report filed under TransCanada's profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov.


CALGARY, ALBERTA--(Marketwired - 1 mars 2017) - TransCanada Corporation (TSX:TRP)(NYSE:TRP) (« TransCanada») a annoncé aujourd'hui avoir offert de vendre à sa société en commandite principale TC PipeLines, LP (NYSE:TCP) (la « Société en commandite »), une participation de 49,3 % dans Iroquois Gas Transmission System, LP (« Iroquois »), ainsi que ses 11,8 % de participation dans Portland Natural Gas Transmission System (PNGTS), sous réserve d'une négociation satisfaisante des conditions, du respect des exigences réglementaires applicables et de l'approbation du conseil de partenariat. Le conseil d'administration de TransCanada a approuvé les ventes d'Iroquois et de PNGTS. « Cette offre démontre le rôle important que TC PipeLines, LP peut jouer dans le financement d'une partie de notre programme de capitalisation à court terme de 23 milliards de dollars, a déclaré Russ Girling, président et chef de la direction de TransCanada. L'atteinte des objectifs de croissance notre portefeuille parmi les meilleurs du secteur nous positionne pour générer une croissance durable et significative des bénéfices, des flux de trésorerie et des dividendes. » Le gazoduc Iroquois achemine du gaz naturel dans le cadre de contrats à long terme et s'étend du réseau principal de TransCanada, à la frontière des États-Unis, près de Waddington, dans l'État de New York, jusqu'aux marchés du nord-est des États-Unis, y compris New York, Long Island et le Connecticut. Iroquois est actuellement détenu conjointement par des sociétés affiliées de TransCanada et de Dominion Resources, Inc. par l'entremise d'une coentreprise. Ce gazoduc est exploité par une entreprise autonome, également détenue conjointement et basée dans le Connecticut. PNGTS est un gazoduc haute capacité qui a commencé à répondre aux besoins énergétiques de la Nouvelle-Angleterre en mars 1999. Il est relié au gazoduc TransQuebec et Maritimes, à la frontière canadienne, et partage ses installations avec le Maritimes & Northeast Pipeline entre Westbrook, dans le Maine, et un point de connexion avec le Tennessee Gas Pipeline System, près de Boston, dans le Massachusetts. En janvier 2016, TransCanada a vendu une participation de 49,9 % dans PNGTS à la société en commandite. TransCanada, par l'intermédiaire de ses filiales, détient actuellement une participation d'approximativement 27 % dans TC PipeLines, LP, une société en commandite américaine formée pour acquérir et détenir des pipelines de gaz naturel et des actifs connexes aux États-Unis, et participer activement à leur gestion. Forte de plus de 65 années d'expérience, la société TransCanada est l'un des chefs de file dans les secteurs du développement responsable et de l'exploitation fiable d'infrastructures énergétiques en Amérique du Nord, incluant des gazoducs et des oléoducs, ainsi que des installations de production d'énergie électrique et de stockage de gaz. TransCanada exploite un réseau de gazoducs qui s'étend sur plus de 91 500 kilomètres (56 900 miles), exploitant presque tous les grands bassins d'approvisionnement gazier d'Amérique du Nord. TransCanada est le plus important fournisseur de services de stockage de gaz et de services connexes du continent avec une capacité de stockage de gaz de 18,4 milliards de mètres cubes (653 milliards de pieds cubes). Un important producteur d'électricité indépendant, TransCanada possède plus de 10 700 mégawatts de production d'énergie au Canada et aux États-Unis. TransCanada est également le promoteur et l'exploitant de l'un des principaux réseaux de transport par pipeline acheminant des liquides en Amérique du Nord, d'une longueur de 4 300 kilomètres (2 700 miles), reliant les sources croissantes d'approvisionnement en pétrole et liquides du continent aux marchés et raffineries clés. Les actions ordinaires de TransCanada se négocient sous le symbole TRP aux bourses de Toronto et de New York. Consultez le site TransCanada.com et notre blogue pour en savoir davantage, ou suivez-nous sur les réseaux sociaux et sur 3BL Media. Le présent communiqué de presse peut contenir certains énoncés prospectifs sujets à des incertitudes et à des risques importants (ces énoncés sont généralement accompagnés de mots comme « anticipe », « s'attend à », « croit », « pourrait », « aura », « devrait », « estime », « prévoit » ou d'autres termes similaires). Tous les énoncés prospectifs contenus dans le présent document visent à fournir, aux porteurs de titres de TransCanada et aux investisseurs éventuels, des informations relatives à TransCanada et à ses filiales, y compris l'évaluation, par la direction, des plans et des perspectives financières et opérationnelles futures de TransCanada et de ses filiales. Tous les énoncés prospectifs sont fondés sur les convictions et les hypothèses de TransCanada reposant sur les renseignements accessibles au moment de la formulation de ces énoncés et, par conséquent, ne constituent pas des garanties quant à la performance future de la société. Les lecteurs sont invités à ne pas accorder une confiance excessive à ces énoncés prospectifs, fournis à la date de leur mention dans le présent communiqué de presse, et de ne pas utiliser les renseignements prospectifs ou les perspectives financières à d'autres fins que leur but. La société TransCanada n'est aucunement tenue d'actualiser ou de réviser tout énoncé prospectif, sauf si la loi l'exige. Pour tout renseignement complémentaire sur les hypothèses présentées ainsi que sur les risques et incertitudes pouvant causer une différence entre les résultats réels et ceux prévus, veuillez vous reporter au rapport trimestriel aux actionnaires en date du 16 février 2017 et au rapport annuel 2016 de TransCanada déposés sous le profil de TransCanada sur le site de SEDAR, à l'adresse www.sedar.com, et auprès de la Securities and Exchange Commission des États-Unis, à l'adresse www.sec.gov.


CALGARY, ALBERTA--(Marketwired - Feb. 27, 2017) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced it has offered to sell a 49.3 per cent interest in Iroquois Gas Transmission System, LP (Iroquois), together with its remaining 11.8 per cent interest in Portland Natural Gas Transmission System (PNGTS), subject to satisfactory negotiation of terms, compliance with any applicable regulatory requirements, and Partnership Board approval, to its master limited partnership, TC PipeLines, LP (NYSE:TCP) (the Partnership). TransCanada's Board of Directors has approved the sales of Iroquois and PNGTS. "This offer demonstrates the meaningful role that TC PipeLines, LP can fulfill in funding a portion of our $23 billion near-term capital program," said Russ Girling, TransCanada's president and chief executive officer. "Delivering on our industry-leading growth portfolio positions us to deliver significant sustainable growth in earnings, cash flow and dividends." The Iroquois pipeline transports natural gas under long-term contracts and extends from the TransCanada Mainline system at the U.S. border near Waddington, New York to markets in the U.S. Northeast, including New York City, Long Island and Connecticut. Iroquois is currently jointly owned by affiliates of TransCanada and Dominion Resources, Inc. through a joint venture. The pipeline is operated by a stand-alone company that is also jointly owned and based in Connecticut. PNGTS is a high-capacity interstate natural gas pipeline which began serving New England's energy needs in March 1999. The pipeline connects with the TransQuebec and Maritimes Pipeline at the Canadian border and shares facilities with the Maritimes and Northeast Pipeline from Westbrook, Maine to a connection with the Tennessee Gas Pipeline System near Boston, Massachusetts. In January 2016, TransCanada sold a 49.9 per cent interest in PNGTS to the Partnership. TransCanada, through its subsidiaries, currently holds an approximate 27 per cent interest in TC PipeLines, LP, a United States master limited partnership which was formed to acquire, own and actively participate in the management of U.S. natural gas pipelines and related assets. With more than 65 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TransCanada operates a network of natural gas pipelines that extends more than 91,500 kilometres (56,900 miles), tapping into virtually all major gas supply basins in North America. TransCanada is the continent's leading provider of gas storage and related services with 653 billion cubic feet of storage capacity. A large independent power producer, TransCanada currently owns or has interests in over 10,700 megawatts of power generation in Canada and the United States. TransCanada is also the developer and operator of one of North America's leading liquids pipeline systems that extends over 4,300 kilometres (2,700 miles), connecting growing continental oil supplies to key markets and refineries. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. Visit TransCanada.com and our blog to learn more, or connect with us on social media and 3BL Media. This publication contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Forward-looking statements in this document are intended to provide TransCanada security holders and potential investors with information regarding TransCanada and its subsidiaries, including management's assessment of TransCanada's and its subsidiaries' future plans and financial outlook. All forward-looking statements reflect TransCanada's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release, and not to use future-oriented information or financial outlooks for anything other than their intended purpose. TransCanada undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the Quarterly Report to Shareholders dated February 16, 2017 and 2016 Annual Report filed under TransCanada's profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov.


News Article | February 27, 2017
Site: www.marketwired.com

Receives Offer from TransCanada to Purchase Interests in the Iroquois and PNGTS Systems HOUSTON, TEXAS--(Marketwired - Feb. 27, 2017) - TC PipeLines, LP (NYSE:TCP) (the Partnership) today reported fourth quarter 2016 net income attributable to controlling interests of $60 million and distributable cash flow of $67 million. For the year ended December 31, 2016, net income attributable to controlling interests was $244 million and distributable cash flow was $313 million. "The Partnership delivered solid results in 2016, reflecting the strength and stability of our portfolio of high quality, FERC-regulated natural gas pipelines, all of which are underpinned by long-term, ship-or-pay contracts with creditworthy customers," said Brandon Anderson, president of TC PipeLines GP, Inc. "Our steady financial performance positions us for additional dropdown transactions as well as other organic growth opportunities." "We are currently in receipt of an offer from TransCanada to sell to us a 49.3 percent interest in the Iroquois Gas Transmission System and its remaining 11.8 percent of the PNGTS system," added Anderson. "These pipelines are critical energy infrastructure in the U.S. Northeast and are expected to be integral to those markets for years to come. Upon a successful transaction, we believe this investment will further strengthen our cash flows and our ability to increase our quarterly distributions this year in line with recent increases." The terms and structure of the proposed transaction are subject to satisfactory negotiation and approval by the Conflicts Committee of the Board of Directors of the Partnership's general partner and, upon recommendation from the Conflicts Committee, approval by the Board of Directors. Funding of the transaction could be sourced from a combination of debt and equity, the latter from the expected continued use of the Partnership's ATM program. We expect the transaction to be completed mid-year 2017. Full Year 2016 Highlights and Fourth Quarter Highlights (All financial figures are unaudited) The Partnership's financial highlights for the fourth quarter of 2016 and for the year ended December 31, 2016 compared to the same periods of 2015 were: Cash Distributions - On January 23, 2017, the board of directors of our General Partner declared the Partnership's fourth quarter 2016 cash distribution in the amount of $0.94 per common unit payable on February 14, 2017 to unitholders of record as of February 2, 2017. The declared distribution to our General Partner will include a $1.3 million distribution for its effective two percent general partner interest and an IDR payment amounting to $2.0 million for a total fourth quarter 2016 distribution of $68 million. For the three months ended December 31, 2016, net income attributable to controlling interests and EBITDA increased by $197 million and $198 million, respectively compared to the same period in 2015 primarily due to the recognition of the $199 million non-cash impairment on our investment in Great Lakes in fourth quarter 2015. Our Adjusted earnings and Adjusted EBITDA remained comparable to the same period in 2015 and were impacted by the net effect of: For the three months ended December 31, 2016, our Distributable cash flow decreased $7 million compared to the same period in 2015 primarily due to higher interest expense and higher maintenance capital expenditures in fourth quarter of 2016 compared to 2015. The Partnership's net cash provided by operating activities increased by $62 million for the twelve months ended December 31, 2016 compared to the same period in 2015 primarily due to higher earnings. Earnings were higher due to the net effect of the following: Transmission revenues - the $13 million increase was primarily due to the net effect of: Earnings from equity investments - the $19 million increase was mainly due to our share of earnings from the acquisition of a 49.9 percent interest in PNGTS effective January 1, 2016. Operating expenses - generally lower expenses in 2016 as a result of lower operational costs on our consolidated entities. Additionally, dropdown costs were incurred on the PNGTS acquisition in 2015. Financial charges and other - the $11 million increase was mainly attributable to additional borrowings to fund a portion of our recent acquisitions. Net income attributable to non-controlling interests - the $7 million decrease was due to the 2015 GTN acquisition effective April 1, 2015, whereby the Partnership now owns 100 percent of GTN. The Partnership's net cash used in investing activities decreased by $97 million as we invested a lesser amount for our recent acquisition of PNGTS compared to our investment during the same period in 2015. In 2015, we paid $264 million to acquire the remaining 30 percent interest in GTN compared to $193 million paid for the acquisition of a 49.9 percent interest in PNGTS in 2016. Additionally, we had higher capital expenditures in 2015 due to expenditures related to the construction of the Carty Lateral at GTN. The Partnership's net cash provided by financing activities decreased by $161 million in the twelve months ended December 31, 2016 compared to the same period in 2015 primarily due to the net effect of: At December 31, 2016, the Partnership's available borrowing capacity under its $500 million credit facility was $340 million. The following non-GAAP financial measures are presented as a supplement to our financial statements: We have evaluated our financial performance and position inclusive of the impairment charge to our investment in Great Lakes during the fourth quarter of 2015. However, we believe it is not reflective of our underlying operations during the periods presented. Therefore, we have presented adjusted earnings and adjusted earnings per common unit as non-GAAP measures that exclude the impact of the $199 million non-cash impairment charge. EBITDA is an approximate measure of our operating cash flow during the current earnings period and reconciles directly to the net income amount presented. It measures our earnings before deducting interest, depreciation and amortization and net income attributable to non-controlling interests and it includes earnings from our equity investments. Adjusted EBITDA also excludes the impact of the $199 million non- cash impairment charge we believe is significant but not reflective of our underlying operations. Total distributable cash flow and distributable cash flow provide measures of distributable cash generated during the current earnings period and reconcile directly to the net income amounts presented. We believe these measures provide investors with meaningful information in evaluating our financial performance and cash distribution capability. Distributable cash flow is computed net of distributions declared to the General Partner and distributions allocable to Class B units. Distributions declared to the General Partner are based on its effective two percent interest plus an amount equal to incentive distributions. Distributions allocable to the Class B units equal 30 percent of GTN's distributable cash flow for the year ended December 31, 2016 less $20 million (2015- less $15 million). The non-GAAP financial measures described above are performance measures presented to assist investors in evaluating our business performance. We believe these measures provide additional meaningful information in evaluating our financial performance and cash generating performance. The non-GAAP financial measures presented as part of this release are provided as a supplement to GAAP financial results and are not meant to be considered in isolation or as substitutes for financial information prepared in accordance with GAAP. Additionally, these measures as presented may not be comparable to similarly titled measures of other companies. For a reconciliation of these non-GAAP financial measures to GAAP measures, please see the tables captioned "Reconciliation of Net income to Distributable Cash Flow," "Reconciliation of Net income (loss) attributable to controlling interests to adjusted earnings" and "Reconciliation of Net income (loss) per common unit to adjusted earnings per common unit," included at the end of this release. Members of the investment community and other interested parties are invited to participate in a teleconference by calling 866.223.7781 on Monday, February 27, 2017 at 9:00 a.m. central time (CDT)/10:00 a.m. eastern time (EDT). Brandon Anderson, president of the General Partner, will discuss the fourth quarter financial results and provide an update on the Partnership's business, followed by a question and answer session. Please dial in 10 minutes prior to the start of the call. No pass code is required. A live webcast of the conference call will also be available through the Partnership's website at www.tcpipelineslp.com. Slides for the presentation will be posted on the Partnership's website under "Events and Presentations" prior to the webcast. A replay of the teleconference will also be available two hours after the conclusion of the call and until 11 p.m. (CDT) and midnight (EDT) on March 6, 2017, by calling 800.408.3053, then entering pass code 9983947. TC PipeLines, LP is a Delaware master limited partnership with interests in seven federally regulated U.S. interstate natural gas pipelines which serve markets in the Western, Midwestern and Eastern United States. The Partnership is managed by its general partner, TC PipeLines GP, Inc., a subsidiary of TransCanada Corporation (NYSE:TRP). For more information about TC PipeLines, LP, visit the Partnership's website at www.tcpipelineslp.com. Certain non-historical statements in this release relating to future plans, projections, events or conditions are intended to be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on current expectations and, therefore, subject to a variety of risks and uncertainties that could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release, including, without limitation to costs of compliance with newly enacted regulations, the timing, terms and closing of future acquisitions of additional natural gas pipeline assets and the ability of these assets to generate ongoing value to our unitholders, impact of potential impairment charges, potential of claims for rescission in connection with certain sales under our ATM program, decreases in demand on our pipeline systems, increases in operating and compliance costs, the outcome of rate proceedings, the impact of recently issued and future accounting updates and other changes in accounting policies, our ability to identify and complete expansion and growth opportunities, operating hazards beyond our control, disruption in the debt and equity markets that negatively impacts the Partnership's ability to finance its capital spending. These and other factors that could cause future results to differ materially from those anticipated are discussed in Item 1A in our Annual Report on Form 10-K for the year-ended December 31, 2016 filed with the Securities and Exchange Commission (the SEC), as updated and supplemented by subsequent filings with the SEC. All forward-looking statements are made only as of the date made and except as required by applicable law, we undertake no obligation to update any forward-looking statements to reflect new information, subsequent events or other changes.

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