Our roundup of Canadian small-caps in the news today.
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Superior Plus Corp. (SPB-T) says it's buying International Dioxcide Inc.(IDI) from Lanxess Corp.
"IDI provides sodium chlorite based solutions including small-scale chlorine dioxide generation technology for biocidal and oxidative applications in municipal drinking water disinfection, cooling tower treatment, oil and gas fracturing, stimulation and odour control, rendering, paper machine slimicide, process water, wastewater treatment and food processing," the company said.
The purchase price, which wasn't disclosed, will be funded by drawing on Superior's existing credit facility.
"The acquisition of IDI enables our specialty chemicals business to vertically integrate its sodium chlorite production with the end customer applications and solutions that IDI offers," said CEO Luc Desjardins.
The company also announced a financing of senior unsecured notes and redemption of convertible unsecured debentures.
The company said it has an agreement to issue and sell an additional $150-million principal amount of its 5.25 per cent senior unsecured notes due Feb. 27, 2024 in a private placement.
"The net proceeds from the issuance of the additional notes will be used to fund the redemption of Superior's issued and outstanding 6 per cent convertible unsecured subordinated debentures due June 30, 2019 (of which there is $97-million aggregate principal amount outstanding) ... and to initially repay drawn amounts under Superior LP's syndicated revolving credit facility, which can be redrawn for general corporate purposes."
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Resverlogix Corp. (RVX-T) announced a private placement of 60.4 million equity units to Shenzhen Hepalink Pharmaceutical Co. Ltd. at a price of $1.44 per unit for gross proceeds of $87-million.
The net proceeds will be used to repay the company's $68.8-million secured loan which matures on Dec. 26 and to fund research and development activities.
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Aphria Inc. (APH-T) reported first-quarter revenue of $6.1-million up from $4.4-million a year ago. Analysts were expecting revenue of $5.6-million.
Net income was $15-million versus $895,000 a year earlier.
"In the first quarter of 2018, Aphria increased revenue and grams sold, and lowered cash costs, in addition to recording our eighth consecutive quarter of positive EBITDA," said CEO Vic Neufeld.
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Prometic Life Sciences Inc. (PLI-T) says the U.S Food and Drug Administration (FDA) has accepted its Biologics License Application (BLA) for its plasminogen replacement therapy.
It also set a Prescription Drug User Fee Act (PDUFA) action date for April 14, 2018.
"The acceptance of our BLA filing and setting of the PDUFA date by the FDA is a significant milestone for Prometic", said CEO Pierre Laurin. "The FDA has recognized the seriousness and unmet need of available therapeutic solutions for plasminogen deficiency, granting orphan, fast-track and rare pediatric disease designations."
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Velan Inc. (VLN-T) reported second-quarter sales of $76.5-million (U.S.) up from $71.1-million a year earlier.
Its net loss was $5.6-million or 26 cents per share compared to net earnings of $2-million or 10 cents per share last year.
"Fierce competition and continued market weakness were a drag on the results and margins of the company's North American operations, causing an erosion of the non-project commodity valve business, as well as reduced pricing in the highly-competitive project valve business," the company said.
"While the company realized improved sales in certain market segments, such as nuclear energy and cryogenics, sales in its North American operations continued to lag, particularly in the oil and gas sector, as a result of poor order bookings in the past."
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Solium Capital Inc. (SUM-T) is raising $40-million in a bought-deal financing.
It has an agreement with a syndicate of underwriters to purchase about 3.9 million shares at $10.25 each.
"The company intends to use the net proceeds of the offering for working capital and general corporate purposes, as well as to provide further flexibility for future acquisitions including potentially material acquisitions," it stated in a release.
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Exfo Inc. (EXFO-Q; EXF-T) reported fourth-quarter sales of $63-million (U.S.), compared to $62.9-million in the fourth quarter of 2016.
Net earnings amounted to $844,000 or 2 cents per share compared net earnings of $2.3-million or 4 cents in the fourth quarter of 2016.
Analysts were expecting revenue of $60.6-million and earnings of nil per share in the quarter.
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Private company Canadian Gold Miner Corp. and Transition Metals Corp. (XTM-X) together announced that CGM has entered into a non-binding letter of intent with Osisko Mining Inc. (OSK-T).
The deal sees Osisko assign its ownership interest in two exploration stage properties to CGM in exchange for stock. Osisko will also provide $1-million in financing to CGM in exchange for stock.
"Once completed, the transaction is expected to result in Osisko owning approximately 19.9 per cent of the issued and outstanding common shares of CGM," the companies said.
The properties to be assigned to CGM include the DeSantis property in the Timmins Gold Camp and the Catherine Property near CGM's focus area south of Kirkland Lake, Ont.
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Slate Retail REIT (SRT.UN-T) says it's buying the National Hills Shopping Center in that Augusta-Richmond County Metropolitan Statistical Area of the U.S. for $24.7-million (U.S.).
The company said the property is 94-per-cent occupied and anchored by The Fresh Market.
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Liquor Stores N.A. Ltd. (LIQ-T) says it's considering selling its Kentucky locations.
The Edmonton-based company said it has entered into a preliminary non-binding term sheet with a third party to sell is 15 Liquor Barn locations in the state.
"This is part of the corporation's broader evaluation of strategic objectives and options," the company stated in a release.
The company said terms of the potential transaction "are being negotiated and have not been finalized."
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TVA Group Inc. (TVA.B-T) says president and CEO Julie Tremblay is retiring and resigning from the board and as president and CEO of Quebecor Media Group. The changes are effective today, the company said.
France Lauzière was appointed president and CEO of TVA Group.
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EnWave Corporation (ENW-X) says it has signed a "commercial royalty-bearing license" with Howe Foods Pty Ltd.
"The license grants HFG the exclusive right to use the company's proprietary Radiant Energy Vacuum (REV) dehydration technology to produce dried banana products in Australia and the non-exclusive right to produce dried blueberry products in Australia," the company said.
HFG has also submitted a purchase order for EnWave to deliver a small-scale commercial REV machine to start commercial production and