Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
CannTrust Holdings Inc. (TRST-T) says it has entered into a strategic partnership with Australian licensed producer, Cannatrek Ltd., which the company says is one of the first Australian vertically integrated enterprises to be awarded a cannabis research, cultivation, manufacturing, sales and import license by federal and state governments.
"We will continue to invest in strategic alliances with well-positioned business partners to maintain our position as a front-runner in the cannabis industry both in Canada and globally," says Peter Aceto, CEO, CannTrust.
As part of the partnership, CannTrust is making an investment of AUD $6.4-million (approximately $6-million Canadian) for a 19.8% stake in Cannatrek, with an option to maintain this shareholding through any future share issuances up to and including Cannatrek completing an initial public offering.
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Patriot One Technologies Inc. (PAT-X) says it plans to raise $40-million in a bought-deal financing agreement with a syndicate of underwriters led by Canaccord Genuity Corp. The underwriters have agreed to purchase 16 million units at a price of $2.50 per unit.
Each Unit will consist of one common share of the company and one common share purchase warrant exercisable to acquire one common share for 24 months at an exercise price of $3.25 per warrant share.
The company said it intends to use the net proceeds “for funding its strategic initiatives, accelerating the deployment of its technology and for working capital purposes.”
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Theratechnologies Inc. (TH-T) says its Trogarzo injection is now included in the most recent version of the treatment guidelines issued by the United States Department of Health and Human Services.
The company said the guidelines state that “Patients with ongoing detectable viremia who lack sufficient treatment options to construct a fully suppressive regimen may be candidates for the recently approved CD4 post-attachment inhibitor ibalizumab.”
“We are very pleased with these guidelines. They recognize the unique mode of action of Trogarzo and they confirm its usefulness in patients who cannot decrease their viral load below detection despite being on other antiretrovirals. The DHHS guidelines should give even more traction with physicians and payers in the United States,” said Luc Tanguay, CEO, Theratechnologies Inc.
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Namaste Technologies Inc. (N-X) says its NamasteMD Inc. subsidiary signed a patient services agreement with Buds2go.ca, an online platform which holds over 80,000 users in its database with over 100,000 weekly sessions.
"The company expects to see a significant increase in patient acquisition through NamasteMD, as Buds2go not only maintains a large database of users but also has very strong organic search traffic rankings," Namaste stated in a release. "By leveraging NamasteMD's platform, Buds2go is able to offer users with access to a simple and convenient platform to access medical cannabis consultations with a trained professional. While the Company is focused on rapid expansion of its patient database through NamasteMD and in on-boarding new patients the company is also actively focused on expanding its offering and securing a strong supply chain for the future."
Namaste also announced on Monday that its subsidiary Cannmart Inc. has signed a medical cannabis supply agreement with RMMI Corp.'s (RMMI-CN) subsidiary Rocky Mountain Marijuana Inc. Cannmart will purchase medical cannabis from RMMI to offer in its online platform. Cannmart will have the right of first refusal on 20 per cent of RMMI’s gross production.
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Pieridae Energy Limited (PEA-X) said its proposed financing of upstream activities within the Goldboro LNG project has received a written confirmation of eligibility in principle for up to US$1.5-billion by the German federal government under its UFK program (Bundesgarantien für ungebundene Finanzkredite).
"This confirmation not only satisfies a critical condition leading to the completion of Pieridae’s acquisition of Ikkuma as contemplated by the arrangement agreement entered into between the company and Ikkuma on August 23, 2018, but also marks an important milestone in advancing the integrated Goldboro LNG project towards a final investment decision," the company stated
It said the prospective US$1.5-billion German government loan guarantee is in addition to a like confirmation of UFK eligibility that was previously announced, for up to US$3-billion of prospective German government loan guarantees "for the proposed financing of the construction of Goldboro LNG train 1 and all associated facilities."
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FSD Pharma Inc. (HUGE-CN) said it appointed Dr. Raza Bokhari as interim CEO and co-chairman of the board, replacing Thomas Fairfull, who will retain his role as president and CEO FV Pharma Inc., the company’s wholly-owned subsidiary and licensed producer.