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 president and CEO of WestJet Airlines (WJA-T) says the threat of a strike by its pilots is over. Ed Sims said the Calgary-based airline and the union that represents the pilots have agreed to a settlement process that will involve a federal mediator.
If necessary, WestJet and the Air Line Pilots Association (ALPA) have agreed to use final and binding arbitration.
“We are pleased with the removal of the threat of strike action, we are grateful for the role played by the government, both with their mediation services and with the offer of support with arbitration,” Sims said Friday at Calgary International Airport.
“The message I can give all Canadians is that they can continue to book in 100 per cent confidence that no strike action will threaten their travel plans.”
-The Canadian Press
**
Dirtt Environmental Solutions Ltd. (DRT-T) has appointed Geoffrey Krause as its chief financial officer, effective June 4. He has more than 15 years in senior financial executive roles for mid- and large-cap public companies, the company said. Mr. Krause was most recently the CFO at Pure Technologies.
**
Conifex Timber Inc. (CFF-T) announced an offering of subscription receipts valued at about US$50-million to US$55-million. It said the net proceeds are expected to be used to partially finance the outstanding membership interests of Caddo River Forest Products, LLC, Suwannee Lumber Holding Company, LLC and Suwannee Timber Management, LLC, which own and operate the Suwannee sawmill in Cross City, Florida and the Caddo River sawmill in Glenwood, Arkansas.
**
Input Capital Corp. (INP-X) says it’s appealing a Saskatchewan Court of Queen’s Bench ruling of May 17 relating to streaming contracts in which a farmer defaulted. The judgment awarded the company $4.4-million plus interest and court costs.
“Notwithstanding the successful outcome, the company believes the trial judge erred on several accounts with respect to the interpretation of the streaming contracts and security, the full details of which are set out in the Notice of Appeal, and these are the basis for the Company’s appeal,” the company stated.
**
Corus Entertainment Inc. (CRJ.B-T) says Canada’s Commissioner of Competition has not approved the sale of its French-language specialty channels Historia and Séries+ to Bell Media Inc. “At this time, Corus Entertainment and Bell Media are reviewing the commissioner’s decision, and considering the appropriate course of action,” the company stated.
**
National Access Cannabis Corp. (META-X) says it has provided up to a $7-million secured loan to The Green Company Ltd. and has subscribed for a $1.85-million secured convertible debenture.
**
Newstrike Resources Ltd. (HIP-X) says it has sold subsidiary Enderlein Nurseries Ltd. to 10673242 Canada Inc. for about $2.5-million.
“We have decided to focus our growth strategy elsewhere as we are ramping up our production capacity at our Niagara facility and actively assessing accretive opportunities,” stated CEO Jay Wilgar.
**
Silvercorp Metals Inc. (SVM-T; SVM-N) says it has increased its semi-annual dividend by 25 per cent to 1.25 cents per share U.S. “The current 25-per-cent increase of the dividend marks the third time in three years that the company has rewarded shareholders by increasing the payment of dividends,” the company stated.
**
Orca Gold Inc. (ORG-X) says Resolute Mining Limited has made a $22-million investment in the company through a private placement. Following completion of the private placement, Resolute will own 32.4 million common shares or about 15 per cent of Orca.
**
Namaste Technologies Inc. (N-X) says it has signed an international distribution agreement with Shatterizer Inc. The deal sees Namaste will retain exclusive rights to sell Shatterizer’s line of cannabis concentrate vaporizers in international markets. Namaste will also work with Shatterizer to launch a pod-based vaporizer system for the Canadian recreational market.
**
Friday Night Inc. (TGIF-CN) announced a one-year licensing agreement with professional poker player Scotty Nguyen for the launch of Canna Hemp branded products co-marketed under his name.
The agreement includes the launch of two cannabidiol-infused products “created with a special blend of terpenes selected for their acute mental concentration properties,” the company said.
**
Telson Mining Corp. (TSN-X) says it has been approved for graduation to Tier 1 issuer status from Tier 2 issuer status by the TSX Venture Exchange. “Telson’s graduation to Tier 1 of the TSX Venture Exchange is a further demonstration of the quality of our Campo Morado and Tahuehueto projects and of our management team,” stated president Ralph Shearing. “Graduating to Tier 1 status will also provide the company with a more favourable regulatory environment, decreased filing requirements and increased opportunity for participation by institutional investors.”