Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Slate Retail REIT (SRT.UN-T) estimates remediation costs for its properties in Flordia will be less than $30,000 (U.S.) in the aftermath of Hurricane Irma.
The REIT's Florida portfolio includes 13 retail properties.
Ballard Power Systems (BLDP-Q; BLDP-T) says it has a letter of intent to provide fuel cell engines to power eight ExquiCity tram-buses being built by Van Hool NV, a Belgian bus, coach and industrial vehicle manufacturer.
The buses will be delivered to customers in France during the second half of 2019.
"These will be the first hydrogen bus routes in France and the world's first hydrogen tram-buses for a full BRT (Bus Rapid Transit) system," Ballard stated in a release. "These clean energy hybrid tram-buses will use fuel cells for primary power and lithium batteries for additional power when needed, with the only emission being water vapour."
Bird Construction Inc. (BDT-T) says it acquired 50 per cent of the outstanding shares of Stack Modular Structures Ltd. and 50 per cent of Stack Modular Structures Hong Kong Limited for an undisclosed price.
Stack is a modular construction company with production operations in China, the company said.
"We have been considering a range of ways to further expand our sources of revenue and increase our competitiveness. We believe we can achieve this by participating directly in the modular prefabrication market which we anticipate will present significant opportunities over the coming years," stated Bird CEO Ian Boyd.
Morguard Corp. (MRC-T) says it is issuing $200-million in series C senior unsecured debentures at a rate of 4.3 per cent per annum.They will mature on September 15, 2022.
The net proceeds will be used to debt and general corporate purposes.
Student Transportation Inc. (STB-T; STB-Q) is rescheduling its fourth-quarter conference call and audio webcast.
"The 2017 fiscal year is the first year that the company is required to have a SOX 404 compliance audit of its internal controls over financial reporting and the company is finalizing that process," it said in a release.
It said the conference call and live audio webcast will now be held on Sept. 21.
Resverlogix Corp. (RVX-T) reported a loss of $15.4-million (U.S.) or 14 cents per share for the quarter ended July 31. That compared to a loss of $6.5-million or 6 cents a year earlier.
To date, the company hasn't recorded any revenues from the sale of its biopharmaceutical products.
Eldorado Gold Corp. (ELD-T; EGO-N) says its Greek subsidiary received formal notice from Greece's Ministry of Finance and Ministry of Environment and Energy initiating arbitration.
"The arbitration notice alleges that the technical study for the Madem Lakkos Metallurgical Plant for treating Olympias and Skouries concentrates in the Stratoni Valley, submitted in December, 2014, is deficient and thereby is in violation of the transfer contract and the environmental terms of the project," the company said.
The company said it is "highly confident" that the study is "robust" and consistent with the contract, business plan and the approved environmental terms of the project.
"Eldorado has always sought a constructive relationship and dialogue with all levels of the Greek government," said CEO George Burns. "Despite the Greek government's refusal to engage with Eldorado, we believe that this matter could still be resolved through good faith negotiations. We again invite the Ministry to engage with us for such purpose."
The company said it will "vigorously defend our rights and employ all legal means at our disposal."
MedReleaf Corp (LEAF-T) says it has signed a binding agreement with Flora Fotonica Ltd. to invest and collaborate on the research and development of specialized grow lighting systems for cannabis cultivation.
"Flora Fotonica will provide MedReleaf with exclusive access to its proprietary LED lighting technology and MedReleaf will dedicate licensed growing space, laboratories, and research personnel," the companies said in a release.
Financial terms of the agreement are not disclosed.
Flora Fotonica has developed a proprietary lighting technology that is expected to help increase crop yields and active cannabinoids. MedReleaf is a cannabis producer.
Cronos Group Inc. (MJN-X) says it plans to raise $10-million in a non-brokered private placement of up to 4.4 million shares at $2.25 each.
It said the net proceeds will mostly be used for working capital and general corporate purposes and to fund the continued expansion of its production capacity.
Avigilon Corp. (AVO-T) says it has been selected to enhance security at TTI Inc.'s new 800,000-square-foot facility in Fort Worth, Texas.
TTI is a Berkshire Hathaway company that distributes interconnect, passive and electromechanical (IP&E) components.
Avigilon's technology will help the company get notified when people and vehicles are in restricted areas, and then quickly verify and respond.
"This saves us valuable time and effort," said Ray Knight, TTI senior facilities manager.