6-K
Suncor Energy Inc (SU)
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a - 16 or 15d - 16 of
the Securities Exchange Act of 1934
| For<br> the month of: May 2023 | Commission File Number: 1-12384 |
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SUNCOR ENERGY INC.
(Name of registrant)
150 – 6th Avenue S.W.
P.O. Box****2844
Calgary**,Alberta**
Canada**,T2P 3E3**
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
| Form 20-F | ¨ | Form 40-F | x |
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Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| SUNCOR ENERGY INC. | |
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| Date:<br><br> <br><br><br> <br>May 4, 2023 | By:<br><br> <br><br><br> <br>“Shawn Poirier” |
| Shawn Poirier <br><br>Assistant Corporate Secretary |
EXHIBIT INDEX
| Exhibit | Description of Exhibit |
|---|---|
| 99.1 | News Release dated May 3, 2023, Petro-Canada^TM^and Canadian Tire Corporation announce new partnership |
EXHIBIT 99.1
News Release dated May 3, 2023, Petro-Canada^TM^ and Canadian Tire Corporation announce new partnership
| News Release |
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FORIMMEDIATE RELEASE
Petro-Canada^TM^ and CanadianTire Corporation announce new partnership
Two of Canada’s trusted brandscome together to offer more value and convenience for Canadians
| · | Partnership between Triangle Rewards and Petro-Points^TM^ will increase value for customers |
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| · | 200 + Canadian Tire Gas+ retail fuel sites to be rebranded to Petro-Canada |
| · | Suncor to become primary fuel provider to the Canadian Tire network –resulting in a 17% increase in retail fuel sales volume for Petro-Canada |
Calgary, Alberta/Toronto, Ontario (May 3, 2023) – Petro-Canada, a Suncor (TSX: SU) (NYSE: SU) business, and Canadian Tire Corporation, Limited (“CTC”) (TSX: CTC) (TSX: CTC.A) today announced a new partnership that will enhance the customer experience at their fuel stations across the country. The partnership will drive additional value for millions of loyalty members, establish a competitive fuel source for CTC and long-term fuel supply arrangement for Suncor, and increase the presence of Petro-Canada branded stations across the country.
The partnership consists of three core areas that will drive value within CTC’s and Petro-Canada’s respective networks:
| · | Loyalty programs: A partnership<br> between two iconic Canadian brands’ loyalty programs, Triangle Rewards, with more than<br> 11 million active members, and Petro-Points^TM^, with more than 3 million active<br> members, will deliver expanded benefits to Canadians. Each company will retain full ownership<br> and control of its respective loyalty program. |
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| · | Retail fuel network: Over 200 of CTC’s Gas+ retail fuel network sites will be rebranded<br> to Petro-Canada stations, while maintaining CTC ownership. This rebrand is expected to enhance<br> existing site productivity, give Petro-Canada’s SuperPass^TM^commercial fleet program customers access to<br> CTC’s network of stations, and unlock future opportunities for CTC to leverage Suncor’s<br> scale and operating infrastructure, including providing more products and services to customers,<br> such as low carbon energy alternatives. |
| · | Fuel supply: Suncor will become the primary fuel provider to CTC’s retail fuel network<br> over time, eventually supplying more than one billion litres of fuel to the Canadian Tire<br> retail fuel station network annually. This will result in a 17% increase in retail fuel sales<br> volume for Petro-Canada compared to 2022 and will allow CTC to streamline its sourcing of<br> fuel with Suncor, Canada’s leading integrated energy company. |
“This partnership is a tangible example of our commitment to optimize our retail network and expand strategic partnerships for Petro-Canada. It brings together Petro-Canada, the leading and most trusted gas station brand in Canada, with Canadian Tire Corporation, an iconic Canadian retailer,” said Rich Kruger, President and Chief Executive Officer, Suncor. “This will provide long-term value to our shareholders by securing a long-term supply relationship for our refineries, while continuing to build on our brand.”
“Through this new partnership, Canadian Tire Corporation will expand the reach of our Triangle Rewards program from over 200 gas stations to a network of more than 1,800, driving enhanced value for Canadians at the pumps by providing more opportunities for members to earn CT Money ^®^ in a high-frequency category,” said Greg Hicks, President and CEO, Canadian Tire Corporation. “This is yet another way we’re creating valuable relationships through the power of Triangle, which is a key component of our growth strategy.”
| Suncor Energy<br> 150 6 Avenue S.W. Calgary, Alberta T2P 3E3<br> suncor.com |
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Canadians can expect to see the launch of the loyalty partnership in the fall of 2023. Gas+ retail fuel stations will be rebranded over the next several years.
Legal Advisory – Forward-Looking Statements
This news release contains certain forward-looking informationand forward-looking statements (collectively referred to herein as “forward-looking statements”) within the meaning of applicableCanadian and U.S. securities laws.
Forward-looking statements are based on Suncor’s currentexpectations, estimates, projections and assumptions that were made by the company in light of its information available at the timethe statement was made and consider Suncor’s experience and its perception of historical trends. Forward-looking statements inthis news release relate to Suncor's expectations, timing and plans regarding the partnership between Suncor and CTC, including the expectationthat it will provide long-term value to its shareholders by securing a long-term supply relationship for its refineries while continuingto build on its brand. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties,some that are similar to other oil and gas companies and some that are unique to Suncor. Suncor’s actual results may differ materiallyfrom those expressed or implied by its forward-looking statements, so readers are cautioned not to place undue reliance on them. Suncor’sAnnual Information Form, Annual Report to Shareholders and Form 40-F, each dated March 6, 2023, and other documents it filesfrom time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors thatcould influence actual results and such factors are incorporated herein by reference. Copies of these documents are available withoutcharge from Suncor at 150 6th Avenue S.W., Calgary, Alberta T2P 3E3; by e-mail request to invest@suncor.com; by calling (800)558-9071; or by referring to suncor.com/FinancialReports or to the company’s profile on SEDAR at sedar.com or EDGARat sec.gov. Except as required by applicable securities laws, Suncor disclaims any intention or obligation to publicly updateor revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The forward-looking statements contained herein provide insightsregarding CTC management’s current expectations and plans regarding the partnership between CTC and Suncor. Readers are cautionedthat such statements may not be appropriate for other purposes. Although CTC believes that the forward-looking statements in this pressrelease are based on information, assumptions and beliefs that are current, reasonable, and complete, such statements are necessarilysubject to a number of business, economic, competitive and other risk factors that could cause actual events or results to differ materiallyfrom management's expectations and plans as set forth in such forward-looking statements. For information on the material risk factorsand uncertainties and the material factors and assumptions applied in preparing the forward-looking statements that could cause CTC’sactual events or results to differ materially from such expectations and plans, refer to section 11.0 (Key Risks and Risk Management)of CTC’s Management's Discussion and Analysis for the Fourth Quarter and Full-Year ended December 31, 2022 as well as CTC'sother public filings, available at http://www.sedar.com and at https://investors.canadiantire.ca. CTC does not undertake to update anyforward-looking statements, whether written or oral, that may be made from time to time by it or on its behalf, to reflect new information,future events or otherwise, except as is required by applicable securities laws.
Canadian Tire Corporation, Limited, (TSX: CTC.A) (TSX: CTC) or"CTC", is a group of companies that includes a Retail segment, a Financial Services division and CT REIT. Our retail businessis led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing,Fixing, Automotive and Seasonal & Gardening divisions. Party City, PartSource and Gas+ are key parts of the Canadian Tire network.The Retail segment also includes Mark's, a leading source for casual and industrial wear; Pro Hockey Life, a hockey specialty store cateringto elite players; and SportChek, Hockey Experts, Sports Experts and Atmosphere, which offer the best active wear brands. The close to1,700 retail and gasoline outlets are supported and strengthened by CTC's Financial Services division and the tens of thousands of peopleemployed across Canada and around the world by CTC and its local dealers, franchisees and petroleum retailers. In addition, CTC ownsand operates Helly Hansen, a leading technical outdoor brand based in Oslo, Norway. For more information, visit Corp.CanadianTire.ca.
Petro-Canada, a Suncor business, operates more than 1,500 retailstations and 300 Petro-Pass wholesale locations nationwide, including 61 marketing arrangements with Indigenous communities. In 2019,Petro-Canada opened Canada’s Electric Highway^TM^, a coast to coast network of electric vehicle chargers. In 2020, thePetro-Canada CareMakers Foundation^TM^ was launched to help support Canadian caregivers. Petro-Canada’s retail loyaltyprogram, Petro-Points™, provides Canadians with the opportunity to earn and redeem rewards. Petro-Canada is proud to be a NationalPartner of the Canadian Olympic and Paralympic committees, supporting Canadian athletes, coaches and their families for more than 25years.
Suncor is Canada’s leading integrated energy company. Suncor’soperations include oil sands development, production and upgrading, offshore oil and gas production, petroleum refining in Canada andthe United States and the company’s Petro-Canada retail and wholesale distribution networks, including Canada’s ElectricHighway, a coast-to-coast network of fast-charging EV stations. Suncor is developing petroleum resources while advancing the transitionto a low-emissions future through investment in power, renewable fuels and hydrogen. Suncor also conducts energy trading activities focusedprincipally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. Suncor has been recognizedfor its performance and transparent reporting on the Dow Jones Sustainability index, FTSE4Good and CDP. Suncor’s common shares(symbol: SU) are listed on the Toronto and New York stock exchanges.
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Suncor media inquiries:
833-296-4570
media@suncor.com
Canadian Tire media inquiries:
416-480-8453
mediainquiries@cantire.com