Mergers and Acquisitions:

• Green Impact Partners Inc. (TSXV:GIP) announced an extension of the previously announced sale of its water, waste treatment and recycling facilities. Both parties agreed to extend the transaction closing to July 16, 2025. As a result, the purchaser agreed to pay an additional $250,000 deposit and increase the termination fee from $5MM to $7.5MM.

• E&P: Vermilion Energy (TSX:VET) closed the $415MM sale of its Saskatchewan and Manitoba assets. The assets comprised of 10,500 boe/d of non-core light oil production.

Financing:

• Enerflex Ltd. (TSX:EFX) entered into an amended and restated credit agreement on its syndicated secured revolving credit facility. The maturity of the $800MM facility has been extended by three years to July 11, 2028.

Other:

• The Alberta and Ontario provincial governments signed memorandum of understandings to strengthen interprovincial trade. This includes conducting a feasibility study of new pipelines and rail lines between the provinces, as well as advocate for federal regulatory changes and a push for nuclear energy development. The proposed pipeline and rail lines would connect Alberta’s oil and gas resources and critical minerals to James Bay, ON.

• The federal government extended changes implemented to the employment insurance (EI) program in response to the U.S. trade war. The changes that were first implemented in March 2025 are intended to help businesses retain workers by reducing their hours and compensating them via EI for lost wages. The current changes will be extended until October 11, 2025.

• As per Stats Canada, Canada added 83,000 jobs in June and the unemployment rate to 6.9 per cent (7.0 per cent in May). 47,000 of the jobs added were in the private sector.

• OPEC reduced its global oil demand forecasts for the next four years citing slowing Chinese growth demand. Global oil demand in 2026 is forecasted to be 106.3MM bbl/d in 2026, revised lower from 108MM bbl/d. The 2029 forecast has been revised 700,000 bbl/d from the previous forecast.