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Dominion Lending Centres Clearlease Reports Midway Energy Ltd. (TSX:MEL) announces equity financing of approximately $33 million

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CALGARY, ALBERTA – (April 7, 2011) Clearlease.com Reports Midway Energy Ltd. (TSX:MEL) announced that it has closed its previously announced bought deal financing (the “Offering”) of common shares (“Common Shares”) through a syndicate of underwriters led by GMP Securities L.P. and including BMO Nesbitt Burns Inc., Wellington West Capital Markets Inc., Desjardins Capital Inc., Stifel Nicolaus Canada Inc. and Macquarie Capital Markets Canada Ltd. (the “Underwriters”). Pursuant to the Offering, Midway issued 7,174,000 Common Shares at a price of $4.60 per Common Share for gross proceeds of approximately $33 million including 652,200 Common Shares issued on the exercise in full of the over-allotment option granted to the Underwriters.

After initially reducing the amounts owing under Midway’s credit facility, Midway intends to use the net proceeds of the Offering to partially fund Midway’s capital expenditure program in its Garrington and Swan Hills areas, including the drilling, completion and tie-in of additional Cardium and Beaverhill Lake light oil wells and for new facilities in each area, for general and corporate purposes and to fund future acquisitions of assets and/or entities.

In connection with the Offering, Midway also issued 2,000,000 Common Shares upon the automatic exercise of 2,000,000 special warrants that had been previously issued by the Company on February 22, 2011 in connection with the acquisition by Midway of additional lands and production in the Garrington area.

About Midway

Midway is a public junior oil and gas company with production in Alberta and British Columbia. The Company’s area of focus is on operated properties in the Garrington area of Alberta, that have long life, high quality light oil and natural gas reserves with repeatable drilling upside. Midway currently trades on the Toronto Stock Exchange (TSX) under the Symbol “MEL”.

DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.

We offer a simple application process available at http://clearlease.com/How-to-Apply.html .

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

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Dominion Lending Centres Clearlease, Reports, Stocks are showing a lack of direction, early trading on Thursday, as traders weigh a drop in weekly jobless claims, National Equipment Leasing Co, National Equipment Lease, NEL, Canada, toronto, Calgary, Edmonton Lease, Lease in Kelowna, Lease in Victoria

Dominion Lending Centres Clearlease Reports Stocks are showing a lack of direction in early trading on Thursday, as traders weigh a drop in weekly jobless claims

NEW YORK, NY – (April 7, 2011) Clearlease.com Reports Stocks are showing a lack of direction in early trading on Thursday, as traders weigh a drop in weekly jobless claims against an interest rate hike in Europe. The choppy trading extends a recent trend, which has come amid well below average trading activity.

While the Labor Department released a report before the start of trading showing a bigger than expected drop in jobless claims in the week ended April 2nd, any buying interest generated by the report has been offset by news of an interest rate hike by the European Central Bank.

The Labor Department report showed that initial jobless claims fell by 10,000 to 382,000 from the previous week’s revised figure of 392,000. Economists had expected jobless claims to slip to 385,000 from the 388,000 originally reported for the previous week.

Peter Boockvar, equity strategist at Miller Tabak, said, “Bottom line, the labor market continues to improve but with the pace never fast enough.”

At the same time, traders are also digesting news of an interest rate hike in Europe, with the European Central Bank raising rates by a quarter point to 1.25 percent. The rate hike, which was widely expected, marks the first increase in rates since July of 2008.

ECB President Jean-Claude Trichet said in a statement that the rate hike was warranted in the light of upside risks to price stability.

In other news out of Europe, Portugal finally had to seek a financial bailout from the European Union after funding costs skyrocketed in recent bond auctions. In response, the EU promised to swiftly process the loan request.

Most of the major sectors are showing only modest moves in early trading, although moderate strength has emerged among gold, health insurance, and brokerage stocks. On the other hand, real estate and utilities stocks are seeing early weakness.

Among individual stocks, shares of Bed Bath & Beyond (BBBY) are moving sharply higher after the retailer reported fourth quarter earnings of $1.12 per share on sales of $2.51 billion. Analysts had expected earnings of $0.97 per share on sales of $2.39 billion.

Drugstore chain operator Rite Aid (RAD) is also seeing early strength after it reported a slightly narrower fourth quarter loss compared to the same period a year ago. The company also forecast stronger than expected revenues for fiscal 2012.

The major averages have ticked to the upside in the past few minutes, with the Nasdaq moving firmly into positive territory. The Nasdaq is up 10.42 points or 0.4 percent at 2,810.24, while the Dow is up 0.79 points or less than 0.1 percent at 12,427.54 and the S&P 500 is up 2.09 points or 0.2 percent at 1,337.63.

DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

We offer a simple application process available at http://clearlease.com/How-to-Apply.html .

Contact DLC Clearlease.com:

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Dominion Lending Centres Clearlease, MTY Food Group (TSX:MTY), MTY Food Group, (TSX:MTY), profits rise 15 per cent to $3.5 million, Q1, National Equipment Leasing Co, National Equipment Lease, NEL, Canada, toronto, Calgary, Edmonton Lease, Lease in Kelowna, Lease in Victoria

Dominion Lending Centres Clearlease Reports MTY Food Group (TSX:MTY) profits rise 15 per cent to $3.5 million in Q1

MONTREAL – (April 7, 2011) Clearlease.com Reports today MTY Food Group Inc. (TSX:MTY), a quick service restaurant operator and franchisor, says its first-quarter profits rose 15 per cent to $3.5 million.

That amounts to 18 cents per share, compared to $3 million or 16 cents per share in the first quarter of 2010.

The Montreal-based company — which operates Canadian branches of fast food chains like Yogen Fruz and Taco Time — says the increase is due to generic growth as well as to a gain from the sale of a corporate store.

Meanwhile, MTY says some downward pressure was added from a transition period at its food processing plant and weak performance at some corporate stores.

Revenues jumped 22 per cent to $17.5 million from $14.3 million.

However, the company says same store sales fell 0.4 per cent due to adverse impacts from colder than usual weather in most parts of Canada and weaker performance from its coffee chain due to ongoing promotions from competitors.

Revenue from franchise locations increased to $12.8 million from $12.3 million in the same quarter of 2010.

Revenue from corporate owned locations increased to $2.5 million from $2 million for the same period last year, largely due to the acquisition of Groupe Valentine Inc. in the third quarter of 2010.

The company also generated $1.2 million in distribution revenue and $1 million from food processing revenues. There were no such revenues streams in the first quarter of 2010.

MTY’s newly-purchased food processing business has been ramping up its activities throughout the three-month period.

DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

We offer a simple application process available at http://clearlease.com/How-to-Apply.html .

Contact DLC Clearlease.com:

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Dominion Lending Centres Clearlease Reports, Loonie ticks higher, European rate hike, new uncertainty, Japanese quake while, OIL US$109 a barrel, oil prices moved above the US$109 a barrel level,Commercial Funding, Commercial Lending, Commercial Leasing, Commercial Mortgages, Residential Mortgage, Equipment Lease, National Equipment Leasing Co, National Equipment Lease, NEL, Canada, toronto, Calgary, Edmonton Lease, Lease in Kelowna, Lease in Victoria

Dominion Lending Centres Clearlease Reports Loonie ticks higher amid European rate hike, new uncertainty from Japanese quake while oil prices moved above the US$109 a barrel level.

VANCOUVER, BC – (April 7, 2011) Clearlease.com Reports today the Canadian dollar was slightly higher Thursday amid a rate hike by the European Central Bank while oil prices moved above the US$109 a barrel level.

The loonie was well off early highs amid fresh market uncertainty after another earthquake struck Japan , rising 0.02 of a cent to 104.14 cents US. The currency had earlier run as high as US$104.49, its highest level since November 2007.

Japan ’s northeastern coast was hit with a strong aftershock that measured 7.4 on the Richter scale . The Japan meteorological agency has issued a tsunami warning for a wave of up to one meter for a coastal area already ravaged by last month’s tsunami.

The European Central Bank raised its key interest rate by a quarter point to deal with inflation even as several euro member countries struggle with ailing economies and a debt crisis.

The refinancing rate was lifted to 1.25 per cent from a record low of one per cent, where it had been since May 2009, only a day after Portugal asked for an international bailout.

“Core inflation has stabilized and the pressure on (consumer price index) is on headline inflation,” said Scotia Capital chief currency strategist Camilla Sutton.

“However, unlike the Fed, the ECB focuses on headline and its aim is to maintain it at or below two per cent. Accordingly, with the latest flash estimate having come in at 2.6 per cent year-over-year the ECB is concerned. In addition, the spread between CPI and the ECB policy rate has never been higher.”

The Bank of England said Thursday it was keeping its key rate unchanged.

Meanwhile, the Bank of Canada makes its next scheduled announcement on interest rates on Tuesday. The central bank is widely expected to leave rates unchanged until later in the year.

Oil prices headed up with the May crude contract on the New York Mercantile Exchange ahead 68 cents to US$109.51 a barrel.

Crude has traded around US$109 this week as traders mull the impact of Libya’s civil conflict, a weakening U.S. dollar and China’s fourth interest rate hike since October. Prices have surged 29 per cent since mid-February.

The May copper contract gained three cents to US$4.40 a pound after jumping 10 cents on Wednesday.

Bullion prices also ticked higher with the June gold contract on the Nymex up $2.60 to US$1,461.10 an ounce.

Meanwhile, traders are also looking ahead to a solid Canadian employment report at the end of the week. Statistics Canada is expected to report Friday that the economy added about 30,000 jobs in March and that data could further strengthen the currency.

DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

We offer a simple application process available at http://clearlease.com/How-to-Apply.html .

Contact DLC Clearlease.com:

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Dominion Lending Centres Clearlease, General Electric (NYSE: GE), GE, (NYSE: GE),nation's largest solar panel factory, part of a $600 million dollar bet, future of solar power, United States, Commercial Funding, Commercial Lending, Commercial Leasing, Commercial Mortgages, Residential Mortgage, Equipment Lease, National Equipment Leasing Co, National Equipment Lease, NEL, Canada, toronto, Calgary, Edmonton Lease, Lease in Kelowna, Lease in Victoria

Dominion Lending Centres Clearlease Reports General Electric (NYSE: GE) says it’s going to build the nation’s largest solar panel factory, part of a $600 million dollar bet on the future of solar power in the United States

NEW YORK, N.Y. – (April 7, 2011) Clearlease.com Reports today General Electric (NYSE: GE) says it’s going to build the nation’s largest solar panel factory, part of a $600 million dollar bet on the future of solar power in the United States.

The new plant will employ 400 people and produce enough solar panels to power 80,000 homes per year, GE said Thursday. The company isn’t saying where the plant will be located, but it does say that there are multiple locations being scouted. .

GE says its thin film solar panel has been certified as the most energy efficient of its kind by the National Renewable Energy Lab in Colorado. The technology for the panel, called CdTe thin film, lends itself to low-cost, large-scale manufacturing.

GE recently acquired PrimeStar Solar Inc. a maker of thin film solar panels based in Colorado.

DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

We offer a simple application process available at http://clearlease.com/How-to-Apply.html .

Contact DLC Clearlease.com:

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Dominion Lending Centres Clearlease Reports More than half of young adults waiting till next year to buy home: RBC survey (NYSE: RY)

TORONTO, Ont. – (April 7, 2011) Clearlease.com Reports today that young adults are the most likely age group to buy a home in the next two years but more than half of those surveyed think the time isn’t right yet.

A poll done for Royal Bank of Canada Royal Bank Of Canada (NYSE: RY) found 55 per cent of respondents aged 18 to 34 said it makes sense to delay a home purchase until next year.

But 43 per cent of the young adults responding to the Ipsos Reid survey said they were looking to buy in the next two years.

That’s higher than the national average of 29 per cent for all age groups, who were surveyed in mid-January.

In comparison, only 29 per cent of Canadians aged 35 to 54 said they want to buy within two years and only 17 per cent of respondents over 55 were looking.

The survey found that the biggest concerns for young adults were having a good down payment and rising real-estate prices.

DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

We offer a simple application process available at http://clearlease.com/How-to-Apply.html .

Contact DLC Clearlease.com:

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Dominion Lending, Dominion Lending Centres, DLC, DLC Clearlease, Mortgage, Should I pay off my Mortgage?, Should I invest, Should I invest my money, Should I refinance, when should I refinance, best time to refi my mortgage

Dominion Lending Centres Clearlease Reports on Mortgage News Should You Pay Off Your Mortgage or Invest?

NEW YORK, NY – (April 7, 2011) Clearlease.com Reports Clients often ask if they should pay off their mortgage with their savings or take that nest egg and put it to work in the market. My answer: It depends, but in today’s interest rate and market environment, I would likely suggest investing.

Yes, your house is an appreciating asset, but it is not appreciating as quickly as it once did, which may be true for a long time. The credit markets are generally dried up and it takes free flowing credit for the real estate market to boom, a phenomenon that may not happen again in our lifetimes.

Let’s examine the question more closely assuming the following:

–You have a $500,000 home.

–Interest rate on your mortgage is 5 percent.

–Return on investment is 8 percent.

–Return on real estate value is 5 percent.

–Tax rate is 25 percent total.

–You have the money to pay off the loan in non-qualified (taxable) assets.

Scenario 1: You pay off your mortgage. Since there is no loan, and no investment other than your house, both your investment money and your house value increase at 5 percent (the rate of return on real estate). Your total increase is $25,000.

Scenario 2: You owe $450,000 (90 percent of your home’s value). In this scenario, you have a $450,000 note with a 5 percent interest rate. The cost to you is $22,500 per year in interest. But since you are able to deduct the interest on the note, the real cost, assuming a 25 percent total tax rate, is $16,875 per year.

Remember, you will also have the $450,000 that you would have used to pay off your mortgage invested. Assuming the above 8 percent return on investment, this will give you a return of $36,000. Net out what you make and what it costs–$36,000 less $16,875–and you earn a $19,125 return each year.

Keep in mind that your real estate will be increasing in value as well. In this case, even though you only own 10 percent of the house, or $50,000, you may be thinking that your increase will be $50,000 at 5 percent. But the real story is that the entire value of your home is increasing at 5 percent, making your gains equal to $25,000. That means your entire increase (in year one) is $19,125 plus $25,000 which is equal to $44,125.

All in all, you are $19,000 ahead of the game by not paying off your house, and that’s just looking at year one. While the numbers change for subsequent years, the principles remain the same.

Two things to keep in mind: It’s very important to have investments capable of achieving an 8 percent return, and make sure to use tax-deferred investments so the compounding effect is greater.

This concept works very well, but only in a low interest-rate environment. The lower rates are, the more it may make sense to hold a mortgage and invest your dollars. But as rates climb higher, it may make sense to pay off that debt. There is a calculation you can do based on your rate of return and rate of interest, but at around a 7 to 8 percent interest rate it begins to make sense to start paying off principal.

DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

We offer a simple application process available at http://clearlease.com/How-to-Apply.html .

Contact DLC Clearlease.com:

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Dominion Lending Centres Clearlease Reports MKS Inc. (TSX:MKX) stock soars after $292.5-million friendly cash takeover offer from PTC (Nasdaq:PMTC)

WATERLOO, Ont. – (April 7, 2011) Clearlease.com Reports a Boston-area company is offering to pay C$292.5-million cash to buy MKS Inc. (TSX:MKX), sending the Canadian software company’s stock soaring Thursday.

Based in Waterloo, Ont., MKS says its board supports the offer of C$26.20 per share from Parametric Technology Corp. of Needham, Mass.(Nasdaq:PMTC) — about 40 per cent above the stock’s pre-announcement market price.

PTC says it plans to broaden its own product offering with MKS Integrity, software that helps companies manage all activities related to software development.

The companies say they expect the deal to close in early June, subject to shareholder, court and regulatory approvals.

MKS shares were up $7.06 or 37 per cent at $26.01 at mid-morning on the Toronto Stock Exchange.

DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

We offer a simple application process available at http://clearlease.com/How-to-Apply.html .

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

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PTC says it plans to broaden its own product offering with MKS Integrity, software that helps companies manage all activities related to software development.

The companies say they expect the deal to close in early June, subject to shareholder, court and regulatory approvals.

MKS shares were up $7.06 or 37 per cent at $26.01 at mid-morning on the Toronto Stock Exchange.

DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

We offer a simple application process available at http://clearlease.com/How-to-Apply.html .

Contact DLC Clearlease.com:

###

PTC says it plans to broaden its own product offering with MKS Integrity, software that helps companies manage all activities related to software development.

The companies say they expect the deal to close in early June, subject to shareholder, court and regulatory approvals.

MKS shares were up $7.06 or 37 per cent at $26.01 at mid-morning on the Toronto Stock Exchange.

DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

We offer a simple application process available at http://clearlease.com/How-to-Apply.html .

Contact DLC Clearlease.com:

###

Dominion Lending Centres Clearlease, Dominion Lending Centers, Dominion Lending, Reports Alberta premier strikes back at NY Times, NY Times editorial slamming Keystone XL pipeline, and TransCanada Corp.'s, (TSX:TRP), XL pipeline, Commercial Funding, Commercial Equipment Lease, Commercial Lease, Commercial Leasing

Dominion Lending Centres Clearlease Reports Alberta premier strikes back at NY Times editorial slamming Keystone XL pipeline and TransCanada Corp.’s (TSX:TRP)

EDMONTON – (April 7, 2011) Clearlease.com Reports Premier Ed Stelmach has responded to a New York Times editorial that slams the proposed Alberta-to-Texas oil pipeline.

In a letter to the paper, the Alberta premier accuses the Times of using erroneous information to describe the oilsands.

Stelmach says pipelines are important to help the U.S. expand its oil production.

The premier also says he welcomes a review of the project by the U.S. State Department, but wants that review to be based on “fact and science.”

Last weekend’s editorial said the U.S. State Department must say no to TransCanada Corp.’s (TSX:TRP) US$13-billion Keystone XL project.

It says the oilsands mining process poses “enormous” environmental risks, including the destruction of boreal forest, emits more carbon dioxide and threatens water sources.

The Times also said the potential for pipeline leaks pose the greatest threat to land and water along the pipeline’s route.

On Monday, a group of more than 30 local and national organizations sent a letter to U.S. Secretary of State Hillary Clinton urging her to extend the comment period for a supplemental environmental impact statement on Keystone XL from 45 to 120 days.

The State Department said in March it would undertake the extra review, pushing approval for the project back by several months. If the department grants the groups’ request, it would likely mean further delays.

Meanwhile, an alliance of 24 U.S. mayors wrote a letter to Clinton urging her to approve the pipeline.

The State Department has the final say on Keystone XL, since it crosses the Canada-U.S. border.

Keystone XL would link up with an existing pipeline system that delivers crude to Illinois, Nebraska and Oklahoma. The expansion would raise the line’s capacity by 500,000 barrels of crude per day, and extend its reach to the lucrative Gulf Coast.

DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

We offer a simple application process available at http://clearlease.com/How-to-Apply.html .

Contact DLC Clearlease.com:

###

Dominion Lending Centres Clearlease Reports Telehop Communications Inc. (TSXV:HOP) appoints Rajiv Jagota as new president and CEO

TORONTO – (April 7, 2011) Clearlease.com Reports Telehop Communications Inc. (TSXV:HOP) says it has appointed Rajiv Jagota as the telecom company’s new president and CEO.

Telehop said Wednesday the industry veteran succeeds Fulvio Ciano at the Toronto-based phone and Internet services operator.

Jagota held senior executive positions with Teleglobe Inc, Bell Canada Inc, Yak Communications and Level 3 Communications before joining Telehop.

In trading on the TSX Venture Exchange, Telehop shares rose half a cent to 15 cents.

DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

We offer a simple application process available at http://clearlease.com/How-to-Apply.html .

Contact DLC Clearlease.com:

###

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Dominion Lending Centres Clearlease Reports Midway Energy Ltd. (TSX:MEL) announces equity financing of approximately $33 million

Dominion Lending Centres Clearlease Reports Stocks are showing a lack of direction in early trading on Thursday, as traders weigh a drop in weekly jobless claims

Dominion Lending Centres Clearlease Reports MTY Food Group (TSX:MTY) profits rise 15 per cent to $3.5 million in Q1

Dominion Lending Centres Clearlease Reports Loonie ticks higher amid European rate hike, new uncertainty from Japanese quake while oil prices moved above the US$109 a barrel level.

Dominion Lending Centres Clearlease Reports General Electric (NYSE: GE) says it’s going to build the nation’s largest solar panel factory, part of a $600 million dollar bet on the future of solar power in the United States

Dominion Lending Centres Clearlease Reports More than half of young adults waiting till next year to buy home: RBC survey (NYSE: RY)

Dominion Lending Centres Clearlease Reports on Mortgage News Should You Pay Off Your Mortgage or Invest?

Dominion Lending Centres Clearlease Reports MKS Inc. (TSX:MKX) stock soars after $292.5-million friendly cash takeover offer from PTC (Nasdaq:PMTC)

Dominion Lending Centres Clearlease Reports Alberta premier strikes back at NY Times editorial slamming Keystone XL pipeline and TransCanada Corp.’s (TSX:TRP)

Dominion Lending Centres Clearlease Reports Telehop Communications Inc. (TSXV:HOP) appoints Rajiv Jagota as new president and CEO

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