CALGARY, May 9, 2012 /CNW/ - Nexen Inc. announced it is providing $450,000 to help pay down The
Drop-In & Rehabilitation Centre's (The DI) mortgage on the Sundial
facility. This donation is in addition to the $300,000 Nexen announced
in July 2011 and brings the company's total support to $750,000. The
announcement was made today at a community event to raise awareness
about financial support needed to eliminate the Sundial's mortgage.
"The Sundial is an important facility in our city as it provides
low-income individuals with a place to call their own. It offers them a
chance at independent living and stability so they can focus on their
future. And it's right in Nexen's backyard," says Kevin Reinhart,
Interim President and CEO. "For us, it's about being a good neighbor
and Nexen's additional contribution will help The Drop-In Centre get
one step closer to being mortgage free."
The DI purchased the Sundial in 2009 in an effort to help break the
cycle of poverty and open doors to a better future. The Sundial
includes 119 affordable housing units - 81 one-bedroom and 38
two-bedroom units - for low income Calgarians. More than $15.25 million
has been raised to date through provincial funding, proceeds from a DI
asset sale, and donations from Nexen, Enbridge, RBC Foundation,
Canadian Oilsands, Boardwalk Trust, Mother Teresa Endowment Fund,
Newalta Corp, Trimac, Canadian Western Bank and others. This leaves a
$3.25 million mortgage remaining on the Sundial. Eliminating the
mortgage will enable The DI to fund various services and counseling
that enables independent living.
Nexen is reaching out to help build sustainable communities wherever it
operates. Through a community involvement strategy called ReachOut, the
company contributed $11.3 million to communities, local programs, the
arts and scholarships in 2011. These investments included giving
financial contributions directly to organizations; matching employee
and contractor contributions; and helping by support employees'