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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.

Yellow Pages Ltd (Y-T) said late Sunday that its sales representatives in Quebec have ratified a new, three-year collective bargaining agreement and are scheduled to return to work immediately.

**

ICC International Cannabis Corp. (WRLD-CN) said it plans to acquire Enigma Unipessoal, which controls one of the first hemp licenses to be issued in Portugal. “Enigma successfully harvested and extracted its first hemp crop in 2015, and has become a notable importer of proprietary hemp seeds,” the company stated.

"This licence authorizes International Cannabis to cultivate hemp on 400 acres of fertile agricultural land located in the Castelo Branco region of Portugal," the company stated.

"International Cannabis is progressing towards a full spectrum cannabis license in Portugal, which it [hopes] to achieve before the end of [the first quarter of] 2019. The company considers the addition of this hemp licence as the first step towards developing a material cultivation presence in Portugal," CEO Eugene Beukman.

**

TECSYS Inc. (TCS-T) said it has acquired OrderDynamics Corp, an order management software company based in Richmond Hill, Ont., for $13.4-million in shares and debt.

"In the era of omnichannel order processing and the high expectations of retailers and consumers, OrderDynamics excels in providing intuitive technology that simplifies the retail supply chain," the company stated.

TECSYS said it financed the purchase price with existing cash.

**

Ensign Energy Services Inc. (ESI-T) has sped up the deadline for shareholders of Trinidad Drilling Ltd. (TDG-T) to accept its all-cash offer to Nov. 27.

Ensign said it is entitled to shorten the time for acceptance of the offer as Trinidad has accepted an alternative offer from Precision Drilling Corporation (PD-T) which Ensign describes as inferior. Ensign made its offer in August.

"Notwithstanding the significantly lower implied value of the Precision consideration for Trinidad shares, we are maintaining our Offer price of $1.68 in cash for each common share of Trinidad", said Bob Geddes, president of Ensign. "Ensign is committed to this transaction and to delivering value to Trinidad shareholders."

Meantime, Trinidad Drilling Ltd. (TDG-T) issued a statement early Monday to confirm its "continued support for a strategic share exchange merger" with Precision Drilling, saying it remains superior to the "inadequate, all-cash takeover offer" from Ensign.

“Trinidad’s board of directors continues to believe that the Precision transaction is the best available option for Trinidad shareholders, despite a recent market downturn in the oil and gas sector,” said Ken Stickland, chair of the Trinidad board.

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MedMen Enterprises Inc. (MMEN-CN) has lowered the sum of its previously announced bought-deal financing to $75-million from $120-million.

The company said it has an amended agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters to issue 13.6 million units at a price of $5.50 each.

Each Unit will include one Class B subordinate voting share of the company and one Class B Share purchase warrant. The exercise price for each warrant is amended to $6.87 per warrant and for a term expiring on September 27, 2021.

This compares to the previous agreement for 17.6 million unit at $6.80 each unit, which was comprised of one Class B subordinate voting share of the company and one-half of one Class B share purchase warrant. Each whole warrant entitled the holder to buy one Class B share at an exercise price of $10 for 36 months.

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Fairfax Financial Holdings Ltd. (FFH-T), owned by Canadian billionaire Prem Watsa, said on Monday it bought an almost 14-per-cent stake in steelmaker Stelco Holdings Inc. (STLC-T) for $250.1 million.

It acquired over 12 million shares of Stelco at $20.50 per share, a premium of 4.2 per cent to its close on Friday.

The insurer bought the stake in Stelco from Bedrock Industries, a unit of Lindsay Goldberg LLC, which owned 60.1 per cent in the company before the sale.

Bedrock still holds about 47-per-cent stake in Stelco.

- Reuters

**

Calian Group Ltd. (CGY-T) said it has been selected to deliver a “significant training contract” for the Department of National Defence and the Canadian Army Simulation Centre.

It said the initial term of the contract is valued at $93-million over five years and that, with two optional extension periods of two years each, the aggregate contract value over the full nine-year period is approximately $170-million. The current contract expires March 31.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 05/01/24 6:21pm EST.

SymbolName% changeLast
TCS-T
Tecsys Inc J
+1.53%38.58
Y-T
Yellow Pages Ltd
-0.3%9.86
ESI-T
Ensign Energy Services Inc
0%2.59
MMEN-CN
Medmen Enterprises Inc Class B Subordin
0%0.015
FFH-T
Fairfax Financial Holdings Ltd
-0.54%1460.1
STLC-T
Stelco Holdings Inc
+1.48%44.67
CGY-T
Calian Group Ltd
-0.07%56.8

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