2011 Payee Disclosure Report - Crown Investments Corporation
2011 Payee Disclosure Report - Crown Investments Corporation
2011 Payee Disclosure Report - Crown Investments Corporation
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CIC Asset Management Inc.<br />
<strong>Crown</strong> <strong>Investments</strong> <strong>Corporation</strong><br />
Page 2 <strong>Report</strong> of Payments for the Year Ended December 31, <strong>2011</strong><br />
D. Grants, Contributions, Donations, and Sponsorships<br />
Individual payees are reported where the sum of payments to them total at least $5,000.<br />
Grants, contributions, donations, and sponsorships include operating and capital grants paid to government and<br />
non-government agencies, grants-in-lieu of taxes paid to municipalities, and amounts paid where goods and<br />
services are not received in return.<br />
Grants-In-Lieu of Taxes<br />
Amount<br />
$<br />
Nil .............................................................................................................................................................................................................................. -<br />
Other Grants, Contributions, Donations,<br />
Amount<br />
and Sponsorships $<br />
Nil .............................................................................................................................................................................................................................. -<br />
E. Suppliers and Other Payments<br />
Individual payees are reported where the sum of payments to them total at least $50,000. Certain payments of<br />
$50,000 or more are excluded from this list—see Section F for more information.<br />
There is no specific disclosure requirement concerning investments not made for money management purposes.<br />
However, investment purchases exceeding $50,000 are included in the list.<br />
* During <strong>2011</strong>, CIC Asset Management Inc. settled its outstanding reinsurance liabilities.<br />
** Certain CIC Asset Management Inc. subsidiaries are holding companies for underlying investments and,<br />
therefore, do not have payment volumes to justify bank accounts separate from CIC Asset Management. As a<br />
result, CIC Asset Management periodically makes payment on behalf of these subsidiaries with an offsetting<br />
increase in amounts due from the related subsidiary. During <strong>2011</strong>, CIC Asset Management paid Corporate Capital<br />
Tax on behalf of CIC Pulp Ltd. ($189,960), and CIC OSB Products Inc. ($51,599) and are included in the total paid to<br />
the Ministry of Finance.<br />
Amount<br />
Amount<br />
$ $<br />
Can Pro Ingredients Ltd. ..................................................... 442,332<br />
<strong>Crown</strong> Capital Partners Inc. ................................................ 150,985<br />
<strong>Crown</strong> <strong>Investments</strong> <strong>Corporation</strong> .......................................... 88,697<br />
<strong>Crown</strong> Life Insurance Company * ..................................... 6,006,922<br />
ESBC Investment Corp. ......................................................... 61,624<br />
Foragen Technologies Limited Partnership ........................ 400,000<br />
Gareth W Evans Consulting Ltd. ........................................... 61,624<br />
Heenan Blaikie LLP ............................................................. 150,019<br />
F. Payment Information Excluded from Public <strong>Report</strong>ing<br />
KPMG LLP ........................................................................... 234,716<br />
MacPherson Leslie & Tyerman ............................................. 74,572<br />
Ministry of Finance **........................................................ 241,559<br />
Solido Design Automation Inc. ........................................... 500,000<br />
Spar Lake <strong>Investments</strong> Limited ............................................ 83,212<br />
Stantec Consulting Ltd. ...................................................... 108,009<br />
Amounts under $50,000 ...................................................... 39,948<br />
This section provides summary information about payments excluded from public reporting and the reasons for<br />
their exclusion. Certain payments over $50,000 may be excluded from public reporting where:<br />
1. There is a legitimate need to protect commercially sensitive information;<br />
2. <strong>Disclosure</strong> could reasonably be expected to prejudice the competitive position of, or interfere with, the<br />
contractual obligations of the <strong>Crown</strong> corporation or a third party; and,<br />
3. <strong>Disclosure</strong> is prohibited by law, including the provisions of The Freedom of Information and Protection and<br />
Privacy Act.<br />
Payments of $50,000 or more, excluded from public reporting <strong>Payee</strong> Amount<br />
# $<br />
Nil ................................................................................................................................................................................... - .......................................... -