<SEC-DOCUMENT>0001137171-12-000301.txt : 20120726
<SEC-HEADER>0001137171-12-000301.hdr.sgml : 20120726
<ACCEPTANCE-DATETIME>20120726171331
ACCESSION NUMBER:		0001137171-12-000301
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120726
FILED AS OF DATE:		20120726
DATE AS OF CHANGE:		20120726

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TRANSALTA CORP
		CENTRAL INDEX KEY:			0001144800
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15214
		FILM NUMBER:		12988137

	BUSINESS ADDRESS:	
		STREET 1:		110 12TH AVE SW BOX 1900 STATION M
		STREET 2:		CALGARY ALBERTA T2P 2MI
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2P2M1
		BUSINESS PHONE:		2128948400

	MAIL ADDRESS:	
		STREET 1:		110-12TH AVENUE SW
		CITY:			CALGARY ALBERTA CANADA
		STATE:			A0
		ZIP:			T2P2M1
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>transalta6k07262012.htm
<DESCRIPTION>TRANSALTA CORPORATION 6-K
<TEXT>
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<TITLE>MD Filed by Filing Services Canada Inc. 403-717-3898</TITLE>
<META NAME="author" CONTENT="LW">
<META NAME="date" CONTENT="07/26/2012">
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<P style="margin-top:0px; margin-bottom:37.333px; font-size:14pt" align=center><B>FORM 6-K<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>
<P style="margin-top:0px; margin-bottom:37.333px; font-size:14pt" align=center><B>Report of Foreign Private Issuer</B></P>
<P style="margin-top:0px; margin-bottom:48px; font-size:12pt" align=center><B>Pursuant to Rule 13a-16 or 15d-16 <BR>
of the Securities Exchange Act of 1934</B></P>
<P style="margin-top:0px; margin-bottom:32px; font-size:12pt">For the month of July 2012</P>
<P style="margin:0px; font-size:11pt" align=center><B>TRANSALTA CORPORATION</B></P>
<P style="margin:0px; font-size:12pt" align=center>(Translation of registrant&#146;s name into English)</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt" align=center><B>110-12<SUP>th</SUP> Avenue S.W., Box 1900, Station &#147;M&#148;, Calgary, Alberta, T2P 2M1</B></P>
<P style="margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>(Address of principal executive offices)</P>
<P style="margin-top:0px; margin-bottom:16px; font-size:12pt">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</P>
<P style="margin-top:0px; margin-bottom:-2px; width:384px; font-size:12pt; float:left">Form 20-F____ &nbsp;&nbsp;</P>
<P style="margin-top:0px; margin-bottom:16px; text-indent:-2px; font-size:12pt">Form 40-F &nbsp;&nbsp;&nbsp;<U>X &nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:12.8px; font-size:12pt; clear:left">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): ____</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:12.8px; font-size:12pt">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): ____</P>
<P style="margin-top:0px; margin-bottom:16px; font-size:12pt">Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</P>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
  <tr>
    <td width="50%">Yes _____</td>
    <td width="50%">No&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>X</U></td>
  </tr>
</table>
<P style="margin-top:0px; margin-bottom:16px; font-size:12pt; clear:left">&nbsp; </P>
<P style="margin-top:0px; margin-bottom:16px; font-size:12pt; clear:left">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): <FONT style="font-size:11pt">&nbsp;</FONT>82-________ </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px">&nbsp;</P>
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<P style="margin-top:0px; margin-bottom:16px; padding-left:54px; font-size:12pt; page-break-before:always" align=center><B>I</B></P>
<P style="margin-top:0px; margin-bottom:16px; font-size:12pt">The document listed below in this Section as 99.1 is being furnished, not filed, and will not be incorporated by reference into any registration statement filed by TransAlta Corporation under the Securities Act of 1933, as amended.</P>
<P style="margin-top:0px; margin-bottom:16px"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=97.2 /><TD width=541.2 /></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:16px; font-size:12pt">99.1</P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin:0px; font-size:12pt"><a href="mcr.htm">Material Change Report dated July 26, 2012</a></P>
</TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:16px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px">&nbsp;</P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin-top:0px; margin-bottom:18.667px; font-size:14pt; page-break-before:always" align=center><B>Signatures</B></P>
<P style="margin-top:0px; margin-bottom:32px; font-size:12pt">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.</P>
<P style="margin:0px; padding-right:13.2px; text-indent:384px; font-size:12pt"><B>TransAlta Corporation</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-right:12px; text-indent:384px; font-size:12pt">By<U>:/s/ </U><I><U>Maryse St.-Laurent</U></I></P>
<P style="line-height:14pt; margin:0px; padding-right:12px; text-indent:402px; font-size:12pt">Maryse St.-Laurent</P>
<P style="line-height:14pt; margin:0px; padding-left:402px; padding-right:12px; font-size:12pt">Vice-President and Corporate Secretary</P>
<P style="margin-top:0px; margin-bottom:16px"><BR></P>
<P style="margin-top:0px; margin-bottom:16px"><BR></P>
<P style="margin-top:0px; margin-bottom:16px"><BR></P>
<P style="margin-top:0px; margin-bottom:16px; padding-right:24px; font-size:12pt">Date: July 26, 2012 </P>
<P style="margin-top:0px; margin-bottom:16px"><BR></P>
<P style="margin-top:0px; margin-bottom:16px" align=center><BR>
<BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin-top:0px; margin-bottom:16px; font-size:12pt; page-break-before:always" align=center><B>EXHIBIT INDEX</B></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=97.2 /><TD width=541.2 /></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:16px; font-size:12pt">99.1</P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin:0px; font-size:12pt"><a href="mcr.htm">Material Change Report dated July 26, 2012</a></P>
</TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:16px"><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin-top:0px; margin-bottom:10.667px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR>
<BR></P>
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<P style="margin:0px"><BR></P>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>mcr.htm
<DESCRIPTION>MATERIAL CHANGE REPORT DATED JULY 26, 2012
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>MD Filed by Filing Services Canada Inc. 403-717-3898</TITLE>
</HEAD>
<BODY style="margin-top:0;font-family:Times New Roman; font-size:10pt; color:#000000">
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt" align=center><B>Form 51-102F3</B></P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt" align=center><B>MATERIAL CHANGE REPORT</B></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=97.2 /><TD width=541.2 /></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Item 1.</B></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Name and Address of Company</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">TransAlta Corporation</P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">110 <font style='font-family:Arial Unicode MS,Arial'>&#8211;</font> 12<SUP>th</SUP> Avenue SW</P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">Calgary, Alberta &nbsp;T2P 2M1</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Item 2.</B></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Date of Material Change</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">July 23 and 25, 2012</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Item 3.</B></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>News Release</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">Press releases disseminated via Marketwire on both of July 23, 2012 and July 25, 2012. </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Item 4.</B></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Summary of Material Change</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">On July 23, 2012, TransAlta Corporation (TransAlta) announced that the independent arbitration panel had validated TransAlta<font style='font-family:Arial Unicode MS,Arial'>&#8217;</font>s operating practices and had granted its claim of force majeure on Sundance units 1 and 2. &nbsp;TransAlta had also sought to have the Power Purchase Arrangement (PPA) terminated for economic reasons, as provided under the legislation. &nbsp;The panel did not agree with this claim. &nbsp;In accordance with the decision, TransAlta is required to pay certain penalties and repair the units. &nbsp;TransAlta will receive capacity payments, from the Balancing Pool for the period of force majeure beginning on November 20, 2011 until such time the units are returned to service. &nbsp;</P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">On July 25, 2012, TransAlta announced that it had signed a long-term electricity contract for Centralia and provided an update on its second quarter announcing that it expected to record a net loss of approximately $790 - $810 million ($3.48 - $3.57 per share) in the second quarter of 2012. &nbsp;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Item 5.</B></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Full Description of Material Change</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Sundance arbitration ruling</B></P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">On July 23, 2012, TransAlta reported that the independent arbitration panel considering TransAlta<font style='font-family:Arial Unicode MS,Arial'>&#8217;</font>s decision in December 2010 to shut down two units at its Sundance generating station had allowed TransAlta<font style='font-family:Arial Unicode MS,Arial'>&#8217;</font>s claim of <I>force majeure</I>. </P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">TransAlta also sought to have the PPA terminated for economic reasons, as provided for under the legislation. The panel did not agree with this claim.</P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">TransAlta will record a net penalty of approximately $150 million in the second quarter of 2012. This will be partially offset by approximately $100 million in capacity payments that TransAlta will continue to receive from the Balancing Pool starting in the third quarter of 2012 until the units are restored to service. The estimated total impact of net penalties to TransAlta is approximately $50 million. </P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">TransAlta will immediately start the work to safely restore the units to service. The cost to repair the units is estimated at approximately $190 million. </P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">As a result of the panel's decision, under International Financial Reporting Standards, TransAlta will potentially record an impairment of up to $45 million compared to a current book value of $140 million which would be recorded in second quarter results.</P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Long-term electricity contract for Centralia</B></P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:16px; padding-right:29.733px; font-family:Arial; font-size:11pt">On July 25, 2012, TransAlta announced that its subsidiary TransAlta Centralia Generation LLC has entered into an 11-year agreement to provide electricity from its Centralia, Washington power plant to Puget Sound Energy (<font style='font-family:Arial Unicode MS,Arial'>&#8220;</font>PSE<font style='font-family:Arial Unicode MS,Arial'>&#8221;</font>). Contract details related to pricing are kept confidential for competitive reasons. The agreement is subject to approval by the Washington Utilities and Transportation Commission.</P>
<P style="margin-top:0px; margin-bottom:16px; padding-right:29.733px; font-family:Arial; font-size:11pt">As a result of the new contract, along with existing hedges, approximately 35 per cent of Centralia<font style='font-family:Arial Unicode MS,Arial'>&#8217;</font>s total available production will be contracted from 2014 until the end of 2020, with 2013 being approximately 45 per cent contracted. On the same basis, approximately 65 per cent of the total available production will be contracted from 2021 through 2025. Centralia<font style='font-family:Arial Unicode MS,Arial'>&#8217;</font>s 670 megawatt (<font style='font-family:Arial Unicode MS,Arial'>&#8220;</font>MW<font style='font-family:Arial Unicode MS,Arial'>&#8221;</font>) Unit 1 is scheduled to be shut down at the end of 2020 and the 670 MW Unit 2 at the end of 2025 under the terms of Washington State<font style='font-family:Arial Unicode MS,Arial'>&#8217;</font>s TransAlta Energy Transition Law. </P>
<P style="margin-top:0px; margin-bottom:16px; padding-left:4.8px; padding-right:29.733px; font-family:Arial; font-size:11pt">Under the power purchase agreement, PSE will buy 180 MW of firm, base-load power from TransAlta starting in December 2014. &nbsp;In December 2015, the contract increases to 280 MW and, from December 2016 to December 2024, the contract is for 380 MW of coal transition power. In the last year of the agreement the contracted volume is 300 MW.</P>
<P style="line-height:12pt; margin:0px; padding-left:4.8px; padding-right:22px; font-family:Arial; font-size:11pt"><B>Quarterly and annual financial update</B></P>
<P style="line-height:12pt; margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px; padding-left:4.8px; padding-right:22px; font-family:Arial; font-size:11pt">TransAlta also announced that, under International Financial Reporting Standards (<font style='font-family:Arial Unicode MS,Arial'>&#8220;</font>IFRS<font style='font-family:Arial Unicode MS,Arial'>&#8221;</font>), and taking into consideration TransAlta<font style='font-family:Arial Unicode MS,Arial'>&#8217;</font>s existing contracts, the new contract with PSE and management<font style='font-family:Arial Unicode MS,Arial'>&#8217;</font>s expectations for forward market electricity pricing in the Pacific Northwest, TransAlta expects, at quarter end, to write down the carrying value of the Centralia Thermal plant by approximately $350 million relative to its current book value of approximately $770 million, and the associated tax assets by approximately $170 million, relative to their current book value of approximately $215 million.</P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:16px; padding-left:4.8px; padding-right:29.733px; font-family:Arial; font-size:11pt">The reduction in the value of the deferred tax asset will result in an increase in TransAlta<font style='font-family:Arial Unicode MS,Arial'>&#8217;</font>s overall effective tax rate from an accounting perspective; however, from a cash flow perspective, TransAlta does not expect to pay any cash taxes for Centralia through to the end of the plant<font style='font-family:Arial Unicode MS,Arial'>&#8217;</font>s economic life in 2025. </P>
<P style="margin-top:0px; margin-bottom:12.2px; padding-left:4.8px; padding-right:22px; font-family:Arial; font-size:11pt">TransAlta also expects to write down its Sundance Units 1 and 2 in the second quarter of 2012 by approximately $45 million relative to the current book value of $140 million. This write down, combined with the net penalty from the Sundance arbitration to be recorded in the second quarter, results in a net earnings impact of approximately $185 million. </P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px; padding-left:4.8px; font-family:Arial; font-size:11pt">Under IFRS, TransAlta expects to record a net loss of approximately $790- $810 million ($3.48 - $3.57 per share) in reported earnings for the second quarter 2012. </P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Item 6.</B></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Reliance on Section 7.1(2) of National Instrument 51-102</B></P>
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<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">Not applicable.</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Item 7.</B></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Omitted Information</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">Not applicable.</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Item 8.</B></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Executive Officer</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">The name and business number of the executive officer who is knowledgeable about the material change and this report is:</P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">Maryse St.-Laurent</P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">Vice-President and Corporate Secretary</P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">Telephone: &nbsp;(403) 267-7110</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2 height=24><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Item 9.</B></P>
</TD><TD style="margin-top:0px" valign=top width=541.2 height=24><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt"><B>Date of Report</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=97.2><P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
</TD><TD style="margin-top:0px" valign=top width=541.2><P style="margin-top:0px; margin-bottom:12.2px; font-family:Arial; font-size:11pt">July 26, 2012</P>
</TD></TR>
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