Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Quarterhill Inc. (QTRH-T; QTRH-Q) says WiLAN’s wholly owned subsidiary, Polaris Innovations Limited, has granted a term license for certain patents owned by Polaris to Elite Semiconductor Memory Technology Inc. “The licensed patents relate to technology used in Dynamic Random Access Memory (DRAM) semiconductor devices,” the company stated. Terms of the license agreement are confidential, the company stated.
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Pretium Resources Inc. (PVG-T; PVG-N) announced the signing of a commitment letter for a fully underwritten US$480-million debt facility with The Bank of Nova Scotia, Societe Generale and ING Capital LLC. “The Loan Facility will be used to refinance the existing construction credit facility, approximately US$423-million due on December 31, 2018, for the construction of the Brucejack Mine,” the company stated. Funds from the revolving facility will also be available for general corporate purposes.
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Bellatrix Exploration Ltd. (BXE-T; BXE-N) announced an agreement to acquire all the remaining assets earned by Grafton Energy Co I Ltd. under the previously announced joint venture arrangement entered into in 2013. “Upon completion of the transaction, the agreement governing the Grafton JV will be terminated and each party will release the other from all existing and future claims and obligations thereunder,” the company said. The total consideration payable to Grafton of approximately $13-million includes $7.66-million in cash and 4.0 million common shares of Bellatrix, the company said.
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Theratechnologies Inc. (TH-T) reported record third-quarter net sales of $17.7-million up 58 per cent from the same quarter last year and ahead of expectations of $16.9-million.
The company recorded a net profit of $367,000 or nil earnings per share in the third quarter compared a net loss of $2.9-million or 4 cents for the same quarter last year. The expectation was for a loss of a penny per share in the latest quarter.
“Our third quarter results speak for themselves. After only one full quarter of sales of Trogarzo, we have recorded strong revenue growth and a positive EBITDA. Our company is on the path of growth,” said Luc Tanguay, CEO, Theratechnologies Inc.
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Ag Growth International Inc. (AFN-T) says it’s raising $100-million in a bought-deal equity financing. It has an agreement with a syndicate of underwriters led by CIBC Capital Markets and National Bank Financial to purchase 1.6 million shares at a price of $61.50 each. The net proceeds of the offering will be used to repay debt, pursue potential acquisition opportunities and for working capital and general corporate purposes, the company stated.
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MORE TO COME