Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
StorageVault Canada Inc. (SVI-X) announced the purchase of two stores in the Greater Toronto Area, a four-acre storage lot in London, Ont. and the assets and business of RecordXpress, an information and records management company, for a total price of $32.5-million.
The purchase price will be paid by issuing $8.3-million shares at a price equal to the greater of $2.80 per common share "or the volume weighted average common share price during the 10 day period ending two days prior to closing," the company stated. It said the rest will be paid with mortgage financing "and funds on hand."
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Héroux-Devtek Inc. (HRX-T) announced that it has been awarded a contract by The Boeing Co. (BA-N) to supply the complete landing gear system for the MQ-25 unmanned aerial refueling program.
“We are very pleased to have been selected once again by Boeing as a key system supplier for the MQ-25. This new contract award represents our fourth complete aircraft landing gear program collaboration with the world’s largest aerospace company and could represent a significant new long-term opportunity for Héroux-Devtek,” stated Héroux-Devtek CEO, Gilles Labbé.
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Trevali Mining Corp. (TV-T) announced it has appointed Ricus Grimbeek as president and CEO effective April 23. At that time, as previously announced, Dr. Mark Cruise will step down as president and CEO, the company stated.
Mr. Grimbeek is a mining engineer with nearly three decades of experience in the resource sector. Before joining Trevali he was the chief operating officer of Vale Base Metals North Atlantic.
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BSM Technologies Inc. (GPS-T) says it has an agreement to be bought by Geotab Inc. for $1.40 per share, which BSM said represents a total equity value, on a fully-diluted basis, of approximately $117.3-million. The purchase price is 41-per-cent premium to Friday’s closing price.
“This acquisition will allow BSM’s technology and know-how in important verticals like government and rail to be made available through Geotab’s cost-effective, reliable, scalable and secured fleet management platform,” stated Neil Cawse, CEO at Geotab.