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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.

CannTrust Holdings Inc. (TRST-T) announced that it has applied to list its common shares on the New York Stock Exchange. The listing remains subject to the approval of the NYSE and the satisfaction of all applicable listing and regulatory requirements.

"A listing on the NYSE is a natural step forward in our evolution as we look to broaden our investor base, increase the company's exposure and expand our business on an international scale," stated CEO Peter Aceto, CEO of CannTrust.

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BTB Real Estate Investment Trust (BTB.UN-T) announced the acquisition of two office properties located at 3111 and 3131 Saint-Martin Boulevard West in Laval, Qué. for $25.3-million. The acquisition brings the number of properties the trust owns to 67. “These two properties are long term leased by prestigious tenants including: Desjardins, the law firm Therrien Couture, GPL Assurance, National Bank of Canada, Processia and Sunlife Financial,” BTB stated. “This acquisition is in line with BTB’s strategic review, selling its smaller properties or its properties located in smaller markets, while purchasing larger properties or properties located in larger markets in the provinces of Quebec and Ontario to maximize the trust’s financial performance.”

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Imperial Metals Corp. (III-T) is suspending operations at its Mount Polley mine in B.C., citing declining copper prices,

"The suspension plan includes milling of low-grade stockpiles which is targeted to extend operations to the end of May 2019," the company stated. "There will be no impact to the mine’s ongoing environmental monitoring and remediation program. Full operations will resume once the economics of mining at Mount Polley improve."

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Stingray Group Inc. (RAY.A-T, RAY.B-T) plans to acquire the assets of CHOO-FM in Drumheller, Alta. from Golden West Broadcasting Ltd. subject to approval from the Canadian Radio-television and Telecommunications Commission.

“The acquisition of CHOO-FM offers an excellent opportunity for Stingray to add an FM station in Drumheller that will perfectly complement our Real Country-branded CKDQ-AM,” stated Ian Lurie, president or radio operations at Stingray. “The stations, under one ownership, can now focus on best serving listeners and clients in a small market environment where resources are challenged.”

Financial terms of the transaction weren't disclosed.

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Canopy Rivers Inc. (RIV-X) announced that its 49-per-cent-owned joint venture PharmHouse Inc. has entered into a syndicated credit facility. Under the terms of the credit facility, the lenders will provide PharmHouse up to $80-million of secured debt financing.

“Having secured what we believe to be the largest bank debt to a private company in the cannabis industry, one that is supported by a syndicate of three Schedule I banks, PharmHouse has gained substantial momentum,” stated Bruce Linton, chairman and CEO of Canopy Rivers.

The credit facility will be used to finalize the acquisition of the 1.3-million-square-foot modern greenhouse facility "and further fund necessary project equipment and ongoing construction costs as the production and distribution platform ramps up," the company stated.

It said the credit facility is being secured by the company and its wholly-owned subsidiary, Canopy Rivers Corp., and contains customary financial and restrictive covenants.

Canopy Rivers also announced that is has made an equity investment in Headset, Inc., a data and analytics service provider for the cannabis industry. Canopy Rivers said it subscribed for $4-million of Series A preferred shares in Headset, “representing the company’s first entry into a technology-focused cannabis vertical.”

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NFI Group Inc. (NFI-T) says the Massachusetts Bay Transportation Authority has awarded the company a new contract for five, 60-foot New Flyer Xcelsior Charge heavy-duty, battery-electric zero-emission buses/

"The award furthers MBTA efforts to reduce greenhouse-gas emissions while establishing safe and reliable transportation for the greater Boston area," the company stated. "As previously announced, New Flyer's 60-foot battery-electric transit bus is the first and only 60-foot battery electric bus to complete the Federal Transit Administration's (FTA) Model Bus Testing Program, qualifying it for FTA funding," the company added.

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Indigo Books & Music Inc. (IDG-T) said its chief financial officer Hugues Simard is leaving and will be replaced by Craig Loudon, the company’s executive vice president and chief supply chain officer, effective Feb. 5.

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Firm Capital Property Trust (FCD.UN-X) announced the acquisition of a multi-residential building consisting of 69 units located in Dartmouth, N.S. for about $10.7-million, excluding transaction costs.

It said the Dartmouth transaction is being financed through a combination of existing cash resources, including the trust's credit facility and the assumption of an existing $7-million first mortgage with a Canadian Chartered Bank that matures on February 1, 2019. The trust said it's currently in the process of refinancing this mortgage.

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AgraFlora Organics International Inc. (formerly PUF Ventures Inc.) (AGRA-CN) said it has an agreement with Blox Labs Inc. (BLOX-CN) “to negotiate in good faith a definitive agreement” that sees the two companies form a joint venture company to manage and operate agricultural greenhouse facilities.

According to the release, Blox has executed a letter of intent with Best Cannabis Products Inc. (BCP) to enter into a definitive agreement to acquire a 180,000-square-foot greenhouse facility on 50 acres of land in Leamington, Ont.

"I am very pleased to announce the letter of intent with AgraFlora Organics to create a cannabis operations management company that would oversee future cannabis operations including our potential ownership in the Leamington, Ontario project," said Jeff Zanini, CEO of Blox Labs Inc.

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MedMen Enterprises Inc. (MMEN-CN) announced that Treehouse Real Estate Investment Trust has completed its first round of capital raise at $133-million and will partially use the funds to purchase properties from the company.

“This capital raise further proves the U.S. cannabis industry today is more investable than ever,” stated MedMen CEO and co-founder Adam Bierman. “MedMen’s relationship with Treehouse will allow us to unlock significant value for MedMen shareholders by spinning out our real estate holdings and deploying the proceeds into accretive growth opportunities for the company.”

Treehouse is a collaboration between MedMen and Stable Road Capital, a Venice, Cali.-based investment firm.

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Exfo Inc. (EXFO-Q; EXF-T) announced it has been awarded at US$4.9-million contract from a U.S. service provider. The unnamed client has selected Exfo’s topology software to facilitate network transformation, the company stated.

EXFO's network topology software maps network resources in real-time and is used by service providers to obtain a unified view of their network, the company stated.

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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
NFI-T
Nfi Group Inc.
-3.38%12.87
III-T
Imperial Metals Corp
0%2.15
IDG-T
Indigo Books & Music Inc
+1.98%2.06
BLOX-CN
Cryptoblox Technologies Inc
+11.36%0.245
MMEN-CN
Medmen Enterprises Inc Class B Subordin
0%0.015
BTB-UN-T
Btb REIT Units
0%3.16

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