CALGARY,
AB, Feb. 10, 2025 /CNW/ - Parkland Corporation
("Parkland" "we" the "Company" or "our") acknowledges the Ontario
Superior Court of Justice's decision which found that Simpson Oil
Limited ("Simpson Oil") is no longer bound by the voting and
standstill restrictions in the Governance Agreement.
Both Simpson Oil and Parkland freely entered into the Governance
Agreement in 2019 which was designed to protect the interests of
Parkland's other shareholders. Simpson Oil commenced this court
proceeding for a declaration that it was no longer bound by its
terms.
Parkland has always been open to representation from Simpson Oil
on its Board. This decision does not change that.
Parkland remains focused on acting in the best interests of all
shareholders to maximize value and executing its long-term
strategy. The Company will continue to engage with shareholders and
focus on the strong operational foundation that supports Parkland's
success.
About Parkland Corporation
Parkland is an international fuel distributor, marketer, and
convenience retailer with operations in twenty-six countries across
the Americas. We serve over one million customers each day. Our
retail network meets the fuel, and convenience needs of everyday
consumers. Our commercial operations provide businesses with
industrial fuels so that they can better serve their customers. In
addition to meeting our customers' needs for essential fuels, we
provide a range of choices to help them lower their environmental
impact. These include renewable fuels sourcing, manufacturing, and
blending, carbon and renewables trading, solar power, and
ultra-fast EV charging. With approximately 4,000 retail and
commercial locations across Canada, the United
States, and the Caribbean
region, we have developed supply, distribution, and trading
capabilities to accelerate growth and business performance.
Our strategy is focused on two pillars: our Customer Advantage
and our Supply Advantage. Through our Customer Advantage, we aim to
be the first choice of our customers, cultivating their loyalty
through proprietary brands, differentiated offers, our extensive
network, competitive pricing, reliable service, and our compelling
loyalty program. Our Supply Advantage is based on achieving the
lowest cost to serve among independent fuel marketers and
distributors in the hard-to-serve markets in which we operate,
through our well-positioned assets, significant scale, and deep
supply and logistics capabilities. Our business is underpinned by
our people and our values of safety, integrity, community, and
respect, which are deeply embedded across our organization.
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SOURCE Parkland Corporation
