Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
The Green Organic Dutchman Holdings Ltd. (TGOD-T) said the first milestone option for Aurora Cannabis Inc. (ACB-T) to acquire an additional 8 per cent of the common shares of the company has expired “and the company has elected not to provide a further extension.”
It said Aurora continues to maintain the right to purchase up to 20 per cent of TGOD's premium organic cannabis from its two facilities under construction in Canada.
"Aurora has been an incredible partner to date and both parties plan to continue the partnership," stated CEO Brian Athaide. He said Aurora invested $78.1-million into the company and "added tremendous value across multiple areas of collaboration, including the design and construction of our Canadian facilities."
The company said it intends to use the net proceeds, if any, to "repay amounts owing under its secured revolving credit facility, and will subsequently draw on the credit facility for purposes of funding the purchase of new investments ... ."
The company has been asked to issue the release by OTC Markets to comment on "certain continued promotional activities beginning on or around October 1, 2018." it stated. "Until being informed by OTC Markets of the promotional material, the company was unaware of the promotional activity and remains unaware of the full nature of the promotional activity and the extent of the dissemination. It is difficult to determine what impact the promotional materials have had on the trading activity in the company's common shares but the company believes that, if anything, such materials have had a negative impact on the trading activity of the company's common shares given the lower than average volumes experienced recently on the OTCQB marketplace."
The company added that it “does not condone any statements made regarding the urgency of investing in the company’s common shares or any other similar statements.”
Valens GroWorks Corp. (VGW-CN) said Health Canada has granted the company a license to cultivate and produce oil under the Access to Cannabis for Medical Purposes Regulations. “The receipt of this license marks the third cannabis license granted to the company by Health Canada,” the company stated.
Hydrogenics Corp. (HYGS-Q; HYG-T) said it has been chosen to supply a large-scale electrolysis system to generate hydrogen at a fueling station in Germany. The customer, Maximator GmbH, a compressor manufacturer building a one-megawatt facility in Wuppertal to cover the daily needs of over 10 new fuel cell buses operated by WSW – the local public transit company.
“We are pleased that our advanced PEM electrolyzers continue to be chosen for important and high-profile city transit applications such as this,” said Daryl Wilson, CEO of Hydrogenics.
Canopy Rivers Inc. (RIV-X) said PharmHouse Inc. has entered into an offtake agreement to supply a subsidiary of TerrAscend Canada Inc. (TER-CN) with cannabis products from 20 per cent of the flowering space at its 1.3 million square foot greenhouse facility until Dec. 31, 2021.
“We are seeing promising synergies develop within the Canopy Rivers portfolio,” said Bruce Linton, chairman and acting CEO of Canopy Rivers. “This collaborative agreement between PharmHouse and TerrAscend Canada demonstrates our commitment to provide more than just growth capital to our partners.
The PharmHouse joint venture, of which Canopy Rivers owns 49 per cent, operates out of approximately 1.3 million square feet of newly built greenhouse in Leamington, Ont.
Maverix Metals Inc. (MMX-X) said it intends to acquire from a wholly-owned subsidiary of Northern Vertex Mining Corp. a right to purchase a percentage of the life-of-mine silver produced from Northern Vertex’s operating Moss Mine in Arizona. “Maverix would like to congratulate Northern Vertex on successfully achieving commercial production at the Moss Mine and we are pleased to be their partner going forward to help them unlock the mine’s full potential,” said Dan O’Flaherty, CEO of Maverix. “This transaction complements our strong and growing portfolio, adding a precious metal stream on a new low-cost mine, that is immediately accretive to both our cash flow and net asset value.”
TMAC Resources Inc. (TMR-T) says Ottawa has accepted the positive recommendation of the Nunavut Impact Review Board allowing the NIRB to finalize and issue a Project Certificate for TMAC’s proposed Madrid-Boston Project.
“TMAC now looks forward to attending the Nunavut Water Board final hearing later this month in Cambridge Bay,” the company stated. It said the hearing will focus on the water use, infrastructure and tailings deposition requirements to be included in the amended water licence for construction and operations at the Madrid and Boston mines.
Isodiol International Inc. (ISOL-CN) said it will be launching Pawceuticals, “a CBD-based product line that naturally aids in restoring a pet’s health and improving overall wellness.”
The pet products are designed for dogs and cats and "are scientifically formulated with a proprietary blend of adaptogens that may aid in comfort, calming, healthy gums support, immune support, itch support, joint support, kennel cough support, kidney support, liver support, urinary support and anti-aging," the company stated. It anticipates these products will be available for purchase online in late November.