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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.

Iamgold Corp. (IMG-T) said it has made a strategic investment in Emergent Technology Holdings LP, a financial technology company that uses blockchain technology to track responsibly sourced gold.

"Iamgold joins partners that include Sprott Inc., Valcambi sa and Yamana Gold Inc., in investing in EmTech's innovative gold supply chain and digital token platform," the company stated.

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theScore, Inc. (SCR-X) reported fourth-quarter revenue of $5.1-million versus $4.8-million in the same period the previous year and slightly below expectations of $5.8-million. The company reported an EBITDA loss of $2.4-million, compared to a loss of $1.9-million for the same period the previous year.

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Liberty Health Sciences Inc. (LHS-CN) said it has been awarded a processor provisional license by the Ohio Department of Commerce.

"Liberty, along with their Ohio-based joint venture partner, the Schottenstein Group, will work on securing a certificate of operation over the next several months," the company stated. It follows the awarding of the provisional dispensary license in June 2018 in the city of Dayton. Liberty owns 50.1 per cent of both the processor provisional license and the provisional dispensary license with the Schottenstein Group owning the remaining 49.9 per cent.

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Ballard Power Systems (BLDP-Q; BLDP-T) said it will provide fuel cell modules to power two port terminal yard trucks as part of a project being managed by GTI and partially funded by the California Air Resources Board.

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Laurentian Bank (LB-T) said it has been informed by the Canadian Industrial Labour Relations Board (CIRB) that the CIRB received a new motion from a group of Laurentian Bank employees asking to revoke the COPE - Local 434 Union accreditation, covering some 1,250 unionized employees.

These employees have been without a contract since Dec. 31, 2017.

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MedMen Enterprises Inc. (MMEN-CN) said it has reached an agreement to sell a significant portion of its real estate assets to the newly formed Treehouse Real Estate Investment Trust, “a real estate investment vehicle that capitalizes on the cannabis industry’s continued growth.” The company said initial investors include real estate firms New England Development, Samuels & Associates and Visconsi Companies, in partnership with Stable Road Capital.

The initial transaction includes three properties and is expected to generate approximately $12.5-million of proceeds to the company after repayment of debt, the company stated. MedMen said additional real estate assets in its portfolio are expected to be sold to Treehouse over the next 12 months. The properties sold to Treehouse will be leased backed to MedMen or its subsidiaries at market rates under long-term leases.

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Diversified Royalty Corp. (DIV-T) reported preliminary third-quarter results for Mr. Lube Canada Limited Partnership, including same-store-sales-growth of 1.6 per cent for stores in the royalty pool compared to 4.7 per cent for the three months ended Sept. 30, 2017.

"DIV expects to report that aggregate royalty income and management fees of $3.8-million were generated from Mr. Lube in Q3 2018, an increase of $0.3 million from Q3 2017," it stated.

It also noted that Alliance Data Systems Inc. issued a news release announcing that AIR MILES reward miles issued increased by 3 per cent in the third quarter, which was the second quarter of growth after six quarters of declines. DIV said it expects to report that royalty income of $1.9-million was generated from the AIR MILES licenses in the third quarter.

DIV expects to report that royalty income and management fees of $1-million were generated from Sutton in the quarter, representing a 2-per-cent increase over the same quarter last year.

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iAnthus Capital Holdings, Inc. (IAN-CN) said it has an agreement to combine with MPX Bioceutical Corporation (MPX-CN) in an all-stock transaction. “The agreement represents the first public to public merger transaction in U.S. cannabis history,” the companies stated.

The agreement states that MPX shareholders will be entitled to receive 0.1673 common shares of iAnthus for each common share of MPX held, representing a consideration of approximately $1.28 per MPX common share, a premium of 30.6 per cent based on the closing price of iAnthus and MPX common shares on Oct. 17.

In addition, each MPX shareholder will receive common shares of the newly formed MPX International, which will hold all of the non-U.S. businesses of MPX, the companies said.

MPX International will apply to list on the Canadian Securities Exchange.

“The combined company, excluding MPX International, will encompass operations and cannabis licenses in 10 states that will permit iAnthus to operate 56 retail locations and 14 cultivation/processing facilities,” according to the release.

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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
IMG-T
Iamgold Corp
+5.77%4.58
BLDP-Q
Ballard Power Sys
+1.8%2.83
BLDP-T
Ballard Power Systems Inc
+0.53%3.8
LB-T
Laurentian Bank
-0.07%28.01
MMEN-CN
Medmen Enterprises Inc Class B Subordin
0%0.015
DIV-T
Diversified Royalty Corp
+0.34%2.91
IAN-CN
Ianthus Capital Holdings Inc
-16.67%0.025

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