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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Redknee Solutions Inc. (RKN-T) said its interim CEO Danielle Royston will be implementing "a critical strategy from the ESW Capital playbook," details of which will be outlined in an investor call on Wednesday.

In a statement, the company said Ms. Royston's "strategic customer success plan" will include investment in staff and research and development.

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NorthWest Healthcare Properties Real Estate Investment Trust (NWH.UN-T) is raising $85-million in a bought-deal financing.

It will sell just under 8 million units at $10.65 each through a syndicate of underwriters led by RBC Capital Markets and BMO Capital Markets.

NorthWest said the proceeds will be used to reduce debt and fund future acquisitions.


Urthecast Corp (UR-T) reported fourth-quarter revenue of $11.7-million up from $8-million for the same quarter a year earlier.

Analysts were expecting revenue of $16.9-million.

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Its net loss of $8.3-million compared to a loss of $17-million a year earlier.


Summit Industrial Income REIT (SMU.UN-T) is acquiring a light industrial property located in Sherbrooke, Que. for $14.8-million.

It will be paid for in cash from the REIT's credit line.

"With its close proximity to major Northeastern markets in the United States, Sherbrooke has become a major distribution hub for businesses exporting to the U.S.," said CEO Paul Dykeman,. "Our credit worthy tenant has been operating in the region for decades, and we look forward to assisting in their growth by expanding the building in the future."


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Osisko Mining Inc. (OSK-T) said Ned Goodman has decided to resign from its board of directors.

He will remain as chairman emeritus and will "continue to be available to consult with directors and management in relation to strategic matters," the company said.


WPT Industrial Real Estate Investment Trust (WIR.U-T) says its chief financial officer Dennis Heieie is retiring at the end of June.

Mr. Heieie has been the CFO since the company's initial public offering in 2013.

Judd Gilats has been hired to replace him. He was previously CFO for U.S. Assets and Dislocated Industries at Castlelake, L.P., a global investment firm based in Minneapolis.


Savanna Energy Services Corp. (SVY-T) has terminated its agreement to allow a takeover by Western Energy Services Corp. (WRG-T), the company said on Wednesday.

The move comes after investors holding more than half the company's stock tendered to a hostile $225-million offer from Total Energy Services Inc. (TOT-T).


AGF Management Ltd. (AGF.B-T) reported income of $107.2-million in the first quarter ended Feb. 28 compared with $103.3-million for the period ended Feb. 29, 2016.

Net income attributable to equity owners of the company was $9.2-million or 11 cents compared to $10.2-million or 13 cents a year earlier.

Analysts were expecting earnings of 12 cents.


Napec Inc. (NPC-T) reported fourth-quarter revenue of $97.4-million down from $115.9-million a year earlier.

Its loss was $2.4-million in the quarter or 3 cents per share compared to net income of $1.3-million or 2 cents a year earlier.


Organigram Holdings Inc. (OGI-X) says it has received a renewal of its license to produce and sell dried marijuana and cannabis oil under Access to Cannabis for Medical Purposes Regulations (ACMPR).

"This renewal is a standard part of the ACMPR process, and was granted after Health Canada's recent inspection of Organigram's facilities and cultivation methodologies," the company said in a statement.

Organigram is one of the companies Health Canada mandated it start testing its products for pesticides following a recent recall. Organigram was discovered selling products containing a banned pesticide that produces hydrogen cyanide when heated and can cause serious health problems in those who consume it.

Health Canada has also said it would introduce random testing for pesticides for the broader industry.


The Hydropothecary Corp. (THCX-X) has received an amendment to its licence from Health Canada under the Access to Cannabis for Medical Purposes Regulations to include the sale of cannabis oils from its facility in Gatineau, Que.

"This is another significant milestone in the Hydropothecary growth story and provides our clients with yet another way in which to consume their medicinal cannabis without smoking" said CEO Sebastien St-Louis in a release.

-with files from Grant Robertson


Sierra Metals Inc. (SMT-T) says CEO and president Mark Brennan has resigned.

The company said Mr. Brennan will continue in his current role for 30 days to help with a succession plan.

"We thank Mark for his contribution to the company over the past two years and wish him well in his new endeavors," said chairman Alberto Arias. "The company will ensure that the necessary plans are put in place to effect a smooth transition."


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About the Author

Brenda Bouw is a freelance writer and editor based in Vancouver. She has more than 20 years of experience as a business reporter, including at The Globe and Mail, The Canadian Press, the Financial Post and was executive producer at BNN (formerly ROBTv). Brenda was also part of the Globe and Mail reporting team that won the 2010 National Newspaper Award for business journalism. More


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