Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Flower One Holdings Inc. (FONE-C) announced late Monday a proposed overnight-marketed public offering of convertible debenture units through a syndicate of agents co-led by Mackie Research Capital Corp. and Canaccord Genuity Corp.
The net proceeds are intended to be used "for the payment of outstanding notes, ongoing construction and development of its Nevada production facility, working capital and general corporate purposes," the company stated.
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Crew Energy Inc. (CR-T) announced petroleum and natural gas sales were $50.8-million in the fourth quarter, down from $60.1-million a year ago and below expectations of $54.4-million.
Net income was $18.8-million or 12 cents per share versus $2.3-million or 2 cents a year ago. Adjusted funds flow from operations came in at $23.7-million or 16 cents per share compared to $34.1-million or 22 cents a year earlier.
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Atlantic Gold Corp. (AGB-X) reported fourth-quarter net income of $8.2-million versus a loss of $1.2-million a year earlier. Revenue came in at $37.6-million which was below expectations of $43.5-million.
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Ag Growth International Inc. (AFN-T) announced it has acquired Missouri-based IntelliFarms LLC, which it said provides “hardware and software solutions that benefit grain growers, processors, and other participants in the agriculture market.” Sales at IntelliFarms for the year ended December 31, 2018 were approximately US$11-million, the company stated.
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Endeavour Mining (EDV-T) reported a net loss attributable to shareholder of US$32-million or 29 cents per share in the fourth quarter versus a loss of US$15-million or 15 cents a year ago. Adjusted net earnings attributable to shareholders was $16-million or 15 cents per share versus earnings of US$53-million or 49 cents a year ago. Revenue came in at US$208-million versus $171-million a year earlier.
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MedMen Enterprises Inc. (MMEN-T) issued a statement late Monday regarding recent market activity in its Class B subordinate voting shares traded on the OTCQX marketplace. The company said OTC Markets made inquiries on Feb. 26 regarding “certain promotional activity concerning MedMen securities” encouraging investors to purchase the Company’s Class B Subordinate Voting Shares.
It said the promotional materials as an article featuring the company posted on Feb. 25 on the website marijuanastox.com by Wining Media LLC, an independent third-party investor relations and consulting firm that MedMen said it hired to provide public relations and communication services for the company. "After due inquiry, the company is unable to determine whether the promotion resulted in increased trading activity in the company’s stock," which increased between Feb. 26 and 28. "The company believes [its] announcement that it would release quarterly earnings on Feb. 27, 2019 was a factor leading to this increase in trading activity."
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Asanko Gold Inc. (AKG-T; AKG-N) appointed Greg McCunn as CEO and director of the company starting April 1. Current president and CEO Peter Breese will transition to the newly created position of president and chief operating officer and will remain a director, the company stated. Mr. McCunn was previously Asanko’s chief financial officer from 2011 to 2017.