Tourmaline Oil Corp. says that CEO Mike Rose is donating $26 million to fund charities supporting youth education, health, and sports.
He will do so by selling or donating about 7.5 percent of his 13 million corporate shares.
Rose’s new charitable investments will include:
- A major donation to the new Innovation Commons in the Engineering Faculty at Queen's University
- Ongoing funding of the new Masters Program in Earth and Energy Resources Leadership at Queen’s
- Lead donation for the ongoing Strathcona-Tweedsmuir major school expansion project
- Additional funding for the new Hotchkiss Brain Institute REEF initiative and the related Tourmaline Chair for Parkinson's Research at the University of Calgary
- Sole donation for the baseball fieldhouse at the University of British Columbia and a major donation for the new UBC Thunderbirds Baseball stadium project
- Sole donation for the post-flood rebuilding of the Stanley Park Little League baseball stadium in Calgary
- A major donation for the Community Hubs and All In for Youth United Way programs in Calgary.
“The construction of the funded projects at Strathcona-Tweedsmuir School, Queen's University, University of British Columbia and the University of Calgary is well underway and expected to be largely completed in 2017,” Tourmaline said in a statement, adding that the charitable projects are also supported by Rose’s spouse, Susan Riddell Rose, the CEO of Perpetual Energy.