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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Ballard Power Systems (BLDP-Q; BLDP-T) says its Protonex subsidiary has received a $1.6-million purchase order for the supply of Squad Power Manager (SPM-622) special operations kits for end-customer U.S. Special Operations Command.
The power management device helps military units "optimize power use for various power electronics devices," the company said.
"This order represents a continued commitment to support U.S. Special Operations Forces' growing requirement within the United States Army for intelligent power management systems," said Ray Summers, Protonex's director of military sales.
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LGC Capital Ltd. (LG-X) is raising $8-million in a bought-deal financing.
It has an agreement with Cormark Securities Inc. to buy 18.4 million unit at 43.5 cents each. LGC said it will use the net proceeds to meet "obligations within LGC's current cannabis investment portfolio, for further investments, and for working capital."
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Torex Gold Resources Inc. (TXG-T) is raising $55-million in a bought-deal financing.
It has an agreement with a syndicate of underwriters led by BMO Capital Markets to buy about 4.4 million common shares at $12.60 each.
The company said intends to use the net proceeds to "fund and provide liquidity for its working capital obligations during the re-start and ramp-up of the ELG Mine Complex, and for general corporate purposes."
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Cannabis Wheaton Income Corp. (CBW-X) says it has entered into a binding interim agreement to purchase 80 per cent of Inverell S.A., a federally licensed cannabis operator in Uruguay.
As part of the agreement, it said shareholders of Inverell are entitled to receive a total of $15-million (U.S.) in cash and shares at closing and some after the achievement of certain milestones.
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Emerald Health Therapeutics Inc. (EMH-X) and Namaste Technologies Inc. (N-CN) say they've signed a letter of intent to collaborate on "strategic business opportunities worldwide and develop a fully-integrated e-commerce platform to serve as a retail channel for Emerald's patients."
The companies said they would leverage Namaste's existing consumer databases, site traffic and e-commerce technology.
"Emerald's goal is to offer a broad selection of cannabis products to adult consumers through various legal channels, including digital and physical stores," said stated Emerald executive chairman Avtar Dhillon. "We believe that combining Namaste's online marketing tools and expertise, large and growing customer base, and array of cannabis delivery products with our proprietary cannabis strains and product development expertise can build significant incremental sales in legal markets in Canada and internationally."
In a separate release, Namaste reported sales for three months ended Nov. 30, of $4.9-million, which it said was a 136-per-cent increase from $2.1-million a year ago. Its loss was $3.1-million or 2 cents per share versus a loss of $897,000 or a penny per share a year ago.
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CanniMed Therapeutics Inc. (CMED-T), which is being taken over by Aurora Cannabis Inc. (ACB-T) reported sales of $16.7-million in fiscal 2017, which the company said was 70-per-cent higher than 2016.
Concentrated cannabis oils sales revenues were approximately 51 per cent of total revenues for the year, compared to 31 per cent of total revenues in 2016, the company said.
Its net loss from continuing operations was $5.9-million or 28 cents per share for 2017, compared to a loss of $10.3-million or 70 cents a year earlier.
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HashChain Technology Inc. (KASH-X) says it plans to acquire blockchain technology company, NODE40 LLC for $8-million (U.S.) in cash and shares.
"This acquisition marks HashChain's initial move to diversify its crypto-currency mining strategy with blockchain-based solutions," the company stated.
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