Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Premier Gold Mines Limited (PG-T) announced that it has signed a definitive credit agreement with Investec Bank plc, as administrative agent for the lenders for a US$50 million secured revolving term credit facility. Premier also announced financing arrangements with OMF Fund II SO Ltd. and Orion Mine Finance Fund II LP for total gross proceeds of approximately US$18.2 million.
The facility "complements the company's strong balance sheet and positions Premier to execute its aggressive growth plan," stated Steve Filipovic, Premier Gold's chief financial officer.
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Hexo Corp. (HEXO-T; HEXO-N) announced the pricing of its underwritten public offering of common shares at $6.50 per share. Hexo said the underwriters for the offering have agreed to purchase 7.7 million common shares from the company for gross proceeds of $50-million.
The company said it will use the net proceeds for general corporate purposes, “including funding the company’s global growth initiatives and research and development to further advance the company’s innovation strategies.”
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Khiron Life Sciences Corp. (KHRN-X) announced it has entered into a binding letter agreement to acquire NettaGrowth International Inc., an arm’s length party, which will own, at the time of completion of the transaction, all the outstanding shares of Dormul S.A. (doing business as Cannapur).
"Dormul has obtained the first licence to produce medical cannabis with THC for commercialization in Uruguay," the release states. "With this acquisition, Khiron will be able to significantly expand its cultivation capacity to a third jurisdiction, and through the Mercosur Regional Free Trade Bloc, will gain access to an export market of approximately 75 million people in Southern Brazil.
As consideration for the acquisition of NettaGro, Khiron said it will issue 8.5 million common shares to the shareholders of NettaGro, at a price of $1.61 per common share.
“Upon completion of the acquisition of NettaGrow, renowned Canadian entrepreneur Joseph Mimran will join the board of Khiron’s Colombian operating subsidiary and will provide strategic counsel to Khiron on packaged goods and retail development for the Latin American market,” the company stated.