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Student Transportation has 11,500 vehicles in Ontario and a number of U.S. states.

Ian Sorensen/The Globe and Mail

Hudbay Minerals Inc. (HBM-T; HBM-N) says it has acquired about 10.8 million common shares of Mason Resources Corp. (MNR-T) – or about 14 per cent of the company.

It bought the shares for 26 cents each, for total consideration of about $2.8-million.

"The acquisition of the shares is being made for investment purposes," the company stated.

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Sandstorm Gold Ltd. (SSL-T) says it sold 10.8 million common shares of Mason Resources Corp. (MNR-T) for gross proceeds of $2.8-million.

The company said the sale reduces its holdings of Mason common shares to zero. It still holds 200,000 share purchase warrants of Mason.

"The sale of Mason shares represents a continuation of Sandstorm's strategy to monetize non-core assets in order to fund the acquisition of streams and royalties," the company stated.

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Student Transportation Inc. (STB-T; STB-Q) says its School Transportation Group subsidiary has closed the acquisition of a student transportation company, Maryland-based Annapolis Bus Company, Inc.

"With annual revenue of approximately $8.5-million (U.S.), the acquisition will add more than 125 revenue vehicles to STI's existing fleet," the company stated.

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The company has multiple transportation contracts with the school district, STI said.

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Hudson's Bay Co. (HBC-T) says HBC International president Don Watros "has made the decision to leave" the company, effective Sept. 29

"Don has been a great partner in supporting the growth and integration of HBC's businesses over the years and was instrumental in HBC entering Europe and helping to establish our structure there," said HBC executive chairman Richard Baker in a statement.

Mr. Watros has been with HBC for 11 years "and has seen the company through major growth," the company said.

He was appointed the president of HBC International in January 2015.

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GreenSpace Brands Inc. (JTR-X) reported first-quarter revenue of $14.2-million, a record and an increase from $9.1-million a year ago.

Analysts were expecting revenue of $13.6-million in the most recent quarter.

"The growth experienced in the quarter in comparison to the same period in prior year was the result of continued strong growth from the GreenSpace core brands of Love Child, Central Roast, Rolling Meadow and Life Choices, along with incremental revenue growth from the Nothing But Nature acquisition," the company stated.

Its net loss was $241,000 or nil per share versus a loss of $601,000 or 2 cents a year earlier.

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CannaRoyalty Corp. (CRZ-T) reported revenues of $960,157 in the second quarter as compared to $12,418 a year ago.

Its net loss was $2.5-million or 6 cents per share compared to a loss of $1-million or 6 cents a year ago.

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Carmanah Technologies Corp. (CMH-T) says board chairman Michael Sonnenfeldt has announced his resignation effective immediately.

"As Carmanah's largest shareholder, Michael had a vision that Carmanah could become a world class designer, manufacturer and distributor of solar related infrastructure equipment that would represent the most environmentally sensitive and best economic alternative for our customers," said CEO John Simmons, who also credited him for "the transformation of Carmanah from a company with a history of losses to one that is now solidly profitable."

Mr. Sonnenfeldt stated that he felt "my work is now finished and I leave the company in great financial condition with an outstanding leadership team."

The company said entities controlled by Mr. Sonnenfeldt sold shares but "still remain significant shareholders" of Carmanah, owning about 10 per cent of its common shares.

Jim Meekison has been appointed the new board chairman. He is also a "significant Carmanah shareholder," the company said.

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CanniMed Therapeutics Inc. (CMED-T) says it has signed a supply agreement with South Africa-based Akula Trading 2 Pty Ltd. to export sales of its oil products in Africa, with initial sales planned to be in South Africa.

"Today's announcement marks another very significant milestone in the company's international expansion plans," stated CanniMed CEO Brent Zettl in a release.

The company said medical cannabis is expected to be prescribed in South Africa through an application by a medical doctor and dispensed through pharmacy outlets nationally.

"CanniMed will additionally provide Akula management and their medical sales representatives with an educational program designed to support the full penetration of medical cannabis treatment to physicians and hospitals," it stated.

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About the Author
Contributor

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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