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Regulation

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Chris Ratcliffe/Bloomberg News

N.S. government won't say how gas price is decided

HALIFAX - Nova Scotia's NDP government says it won't release how the province decides its regulated price for gas at least in the short term. Acting Service Nova Scotia Minister Frank Corbett says the priority is passing the responsibility for setting prices from the government to the Utility and Review Board. The Liberals released documents during the recent election campaign that showed the minister picks a price from three options presented by department staff.

Public money

No N.S budget until fall, gov't approves $1.13B spending

HALIFAX - Without a budget in place, Nova Scotia's fledgling NDP cabinet moved Thursday to authorize $1.13 billion in spending to keep the government functioning until Oct. 31. The government said about $881 million would be made available through the use of so-called special warrants to cover operating expenses for government programs and services. Another $250 million was authorized for spending on capital projects.

Investment

Killam Properties Inc., closes public share offering

HALIFAX - Killam Properties Inc. (TSX: KMP) announced Thursday it has closed a public share offering, on a bought-deal basis, of 4,255,000 shares, after full exercise of the underwriters' overallotment option, at a price of $5.80 per share, for gross proceeds of $24.7 million. Killam, a Halifax-based landlord with several New Brunswick holdings, intends to use the money on property acquisitions, to repay indebtedness and for general use.