Clarusvisus/Getty Images/iStockphoto
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Madison Pacific Properties Inc. (MPC-T) reported net income of $10-million in the quarter ended Nov. 30, compared to $11.4-million for the same quarter last year.
Income per share came in at 17 cents versus 19 cents a year earlier.
**
Village Farms International Inc. (VFF-T) says that on Jan. 11 Mastronardi Holdings Ltd., an unrelated third party, sold 5.2 million shares, or the rest of its holdings in the company. That's about 12 per cent of the company's 42.2 million shares outstanding.
MHL had been selling off shares in recent weeks, the company stated.
"As we expand on our existing North American produce business and diversify into cannabis production in Canada through our joint venture, Pure Sunfarms Corp., we are pleased to transition MHL's ownership to institutional investors who recognize Village Farms' significant opportunities in the Canadian cannabis industry as one of the largest and most experienced greenhouse growers in the country," stated Michael DeGiglio, CEO of Village Farms.
**
Emblem Corp. (EMC-X) says it's raising $50-million in a bought-deal financing. It has a letter of engagement for Eight Capital to purchase 12.2 million units and 25,000 convertible unsecured debentures.
The company says it intends to use the proceeds "to fund strategic growth opportunities and for general and corporate purposes."
**
First Majestic Silver Corp. (FR-T; AG-N) says it has a friendly deal to buy Primero Mining Corp. (P-T).
Under the terms of the agreement, Primero's issued and outstanding common shares will be exchanged for First Majestic common shares on the basis of 0.03325 of a First Majestic common share for each Primero common share, the companies stated.
Alongside the agreement, First Majestic will enter into new streaming agreements with Wheaton Precious Metals Corp. (WPM-T; WPM-N) for Primero's San Dimas silver-gold mine.
**
Quinsam Capital Corp. (QCA-CN) is raising $10-million in a brokered private placement. It has engaged Canaccord Genuity Corp. and Gravitas Securities Inc. to act as co-lead agents on the private placement of up to 16.7 million units at a price of 60 cents per unit.
Quinsam said it intends to use the net proceeds to purchase financial interests in cannabis companies and for general working capital purposes.
**