CALGARY, AB, Feb. 10, 2025 — Parkland Corporation has acknowledged the recent ruling by the Ontario Superior Court of Justice, which determined that Simpson Oil Limited is no longer bound by the voting and standstill restrictions stipulated in the Governance Agreement established in 2019.
Simpson Oil initiated the court proceedings, seeking a declaration to confirm their release from the agreement’s terms, which were designed to safeguard the interests of Parkland’s shareholders.
Parkland has expressed its ongoing willingness to allow representation from Simpson Oil on its Board, emphasizing that this ruling does not alter that openness.
The company remains committed to prioritizing the interests of all shareholders, aiming to maximize value while executing its long-term strategic initiatives. Parkland will continue its engagement with shareholders and focus on the robust operational foundation that drives its success.
About Parkland Corporation
Parkland Corporation is a leading international fuel distributor and convenience retailer, operating in twenty-six countries across the Americas. Serving over one million customers daily, Parkland’s extensive retail network provides essential fuel and convenience products. The company’s commercial operations offer industrial fuels that empower businesses to better serve their clientele. Furthermore, Parkland actively contributes to environmental sustainability through initiatives such as renewable fuel sourcing, carbon trading, solar energy solutions, and ultra-fast EV charging infrastructure. With around 4,000 retail and commercial locations across Canada, the United States, and the Caribbean, Parkland is well-equipped to strengthen its supply, distribution, and trading capabilities for enhanced growth and performance.
Parkland’s strategy is anchored in two key pillars: Customer Advantage and Supply Advantage. The Customer Advantage focuses on becoming the preferred choice for customers by fostering loyalty through proprietary brands, distinctive product offerings, a vast network, competitive pricing, reliable service, and an engaging loyalty program. Meanwhile, the Supply Advantage aims to achieve the lowest cost of service among independent fuel marketers and distributors in challenging markets, leveraging well-positioned assets, significant scale, and deep supply and logistics expertise. Central to Parkland’s operations are its dedicated personnel and core values of safety, integrity, community, and respect, which resonate throughout the organization.
