Skip to main content

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 Flowr Corp. (FLWR-X) announced plans to acquire the remaining 80.2-per-cent interest in Holigen Holdings Limited through a share purchase. Flowr announced previously its intention to acquire 19.8 per cent of Holigen.

The company said the acquisition has been approved by the board of directors of each of Flowr and Holigen "and is strongly supported by both management teams."

Story continues below advertisement

Separately, The Flowr Corp. announced on Tuesday morning a $125-million public offering of common shares. “The offering is expected to be priced in the context of the market, with the final terms of the offering to be determined at the time of pricing,” the company stated. It plans to use the net proceeds to fund, in part, its acquisition of the approximately 80-per-cent equity interest of Holigen Holdings Limited that it does not already own as well as “working capital required for the construction and development of Holigen’s and the company’s cultivation and production facilities, and for general corporate purposes.”

**

Norbord Inc. (OSB-N; OSB-T) says its oriented strand board (OSB) mill in High Level, Alta. resumed normal operations over the weekend. “The MacKenzie County mandatory evacuation order and town of High Level evacuation alert were both lifted this afternoon and MacKenzie County remains under an evacuation alert,” the company stated in a release after markets closed on Monday.

Norbord reported on June 18 that its High Level OSB mill had temporarily suspended production due to the wildfires burning nearby in the region. “All non-essential mill employees were safely evacuated at the time and the mill did not incur any damage,” the company stated. Norbord said the curtailment is not expected to materially impact the company’s second-quarter results.

**

Conifex Timber Inc. (CFF-T) announced the sale of its Fort St. James sawmill in B.C. and associated forest license to Hampton Lumber for $39-million “plus the market value of finished lumber and log inventory at closing.”

“We have known for some time that lumber industry rationalization is inevitable because too little sawlog supply is available to maintain the existing manufacturing base in the Interior region of B.C.," Conifex CEO Ken Shields. "The decision we have taken to sell the mill was extremely difficult; however, we are encouraged by Hampton’s plans for the site. We believe this transaction supports the province’s objectives for industry rationalization that is mindful of the impacts on people, communities and First Nations.”

Story continues below advertisement

Hampton Lumber operates nine sawmills in Oregon, Washington and B.C.

Report an error Editorial code of conduct
Tickers mentioned in this story
Unchecking box will stop auto data updates
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

Cannabis pro newsletter