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.
Great Canadian Gaming Corp. (GC-T) and Clairvest Group Inc. (CVG-T) said they have been selected as the successful proponent by the Ontario Lottery and Gaming Corporation to operate "certain gaming facilities" in the west Greater Toronto Area.
"Great Canadian and Clairvest will invest through a newly formed partnership, Ontario Gaming West GTA Limited Partnership with Great Canadian owning 55 per cent and Clairvest owning 45 per cent, the companies stated.
Great Canadian said it will develop and operate the gaming facilities within the west GTA bundle on behalf of the partnership.
The partnership will acquire all the gaming assets in the west GTA bundle and will enter into leases for each of the facilities, the companies said.
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Park Lawn Corp. (PLC-T) announced "another important milestone in its growth plan" with the closing of a new syndicated bank financing arrangement led by National Bank of Canada and including Bank of Montreal and The Toronto-Dominion Bank.
The company said the financing arrangement replaces its existing credit facilities with National Bank. It has a term of five years and more than triples PLC's borrowing capacity to $125-million, the company said.
"The additional credit will provide PLC with further flexibility as it continues to pursue its growth strategy," the company stated. "In particular, the revolving credit facility is expected to support PLC's ability to capitalize on organic projects and acquisition opportunities as they arise while maintaining a prudent approach to leverage."
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AGT Food and Ingredients Inc. (AGT-T) says it has entered into a long-term terminal services agreement with Fibreco Export Inc.
It said Fibreco will construct an agriproducts export terminal facility at its current bulk handling and loading facility at the Port of Vancouver.
"The agriproducts facility will include approximately 43,000 metric tonnes of dry bulk storage, rail capacity to receive full unit trains, and a new ship loader and expanded ship berth capable of loading Panamax vessels," the company stated.
"With our investments in logistics, rail and bulk handling, access to tidewater at port is an essential infrastructure piece, particularly on the west coast of Canada where access to port facilities is in limited supply to reach key markets in Asia," said AGT CEO Murad Al-Katib.
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Home Capital Group Inc. (HCG-T) appointed Victor DiRisio as its new chief information officer (CIO), effective Jan. 1. It also made other executive leadership appointments.
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Supreme Pharmaceuticals Inc. (FIRE-X) says it has changed its name to The Supreme Cannabis Company, Inc. effective Dec. 18 and said holders of its 10-per-cent unsecured convertible debentures due 2019 will see those converted into common shares around Jan. 18.
"As a result of the conversion of the convertible debentures, Supreme expects to significantly lower its debt load and related interest expenses," the company stated.
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True North Commercial Real Estate Investment Trust (TNT.UN-T) says it plans to acquire a 78,800-square-foot office property in Burlington, Ont. for about $22.8-million.
"The Harvester property is strategically located with excellent accessibility and visibility to the QEW offering convenient access to both the Toronto Pearson and Hamilton International Airports," the company stated. "With an average remaining lease term of 3.2 years, the building is 100% occupied by multi-national organizations."
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Pure Industrial Real Estate Trust (AAR.UN-T) announced a handful of acquisitions and asset sales on Monday, after markets closed. They include a $32-million acquisition of a "core asset" in Fort Worth, Texas and $61.4-million agreement to acquire a core asset in Fort Worth, among others. It also announced some dispositions in Ontario and Manitoba.
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Organigram Holdings Inc. (OGI-X) says it has a letter of intent with Farm Credit Canada (FCC) or a $10-million loan. The company said it's the third loan it has received by the company in the past three years.
"We have had a long and supportive relationship with FCC and are grateful for their ongoing support," stated Organigram CEO Greg Engel. "This loan represents another step to enable the company to proceed with its previously announced expansion plan and in conjunction with our recent $57-million bought deal financing, capitalizes Organigram for future growth. This increase in debt financing moves the company to a more optimized capital structure with lower cost of capital."
Organigram also said it appointed Paolo De Luca as its new chief financial officer, effective today.
Peter Hanson has been serving as interim CFO since March 2016. Mr. Hanson will be appointed as director of finance.
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Uni-Select Inc. (UNS-T) says it has acquired T-W Pike Sales Ltd., doing business as Spectrum Coatings by FinishMaster Canada Inc., a subsidiary of Uni-Select. Spectrum Coatings is a distributor of automotive and industrial paint.
"These Manitoba stores are a very nice addition to our growing corporate store network in Canada and represent an opportunity to expand the brand's presence nationally and grow in a key market," said Brent Windom, president of the company's Canadian Automotive Group.
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Drone Delivery Canada (FLT-CN) says it has received conditional approval from the TSX Venture Exchange to list its common shares for trading as a Tier 1 issuer.
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Partners Real Estate Investment Trust (PAR.UN-T) says it has finalized a $20.8-million mortgage at the REIT's Mariner Square property in Campbell River, B.C. and an $11.5-million mortgage at the REIT's Cobblestone Lane property in Grande Prairie, Alta.
"The combined net proceeds of $6.2-million prior to financing costs, will be utilized towards debt repayment," the REIT stated.
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Enghouse Systems Ltd. (ENGH-T) says it has acquired SimaTech A/S of Denmark.
SimaTech provides products and solutions for the law enforcement, fire and rescue, control room and utility sectors, the company said. The price wasn't disclosed.
"SimaTech's solutions and market focus further expand our public safety vision and complement our existing solutions," said Brad Cameron, general manager of Enghouse Transportation.
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Sandstorm Gold Ltd. (SAND-A; SSL-T) says it has agreed to purchase an existing 2-per-cent net smelter returns royalty on the producing Houndé gold mine in Burkina Faso, operated by Endeavour Mining Corp. (EDV-T).
It said the royalty will be acquired from Acacia Mining plc for $45-million (U.S.) in cash and covers the Kari North and Kari South tenements, representing approximately 500 square km of the Houndé property package.
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Cannabis Wheaton Income Corp. (CBW-X) says it has entered into an exclusive data licensing agreement with a Canadian cannabis testing, analysis and rating company.
Cannabis Wheaton said it will have an exclusive license to all current and future proprietary cannabis testing, review and ranking data for two years.
"The data will provide the company with valuable insights from cannabis obtained by authorized patients across Canada," the company stated.
The licensor will receive an upfront licensing fee of $341,250 payable in common shares of the company at 95 cents each, as well as up to 200,000 warrants to purchase common shares upon the achievement of certain milestones. The stock closed at 95 cents on Monday.
"We are excited to have access to proprietary data that will afford Cannabis Wheaton the ability to develop broad market intelligence and provide its platform partners with a unique tool to make better cultivation, sales and purchasing decisions," stated Cannabis Wheaton CEO Chuck Rifici.
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