Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Minto Apartment Real Estate Investment Trust (MI.UN-T) announced that its operating subsidiary, Minto Apartment Limited Partnership, has entered into an agreement to buy Minto Properties Inc.'s 40-per-cent interest in the High Park Village apartment complex in Toronto for $131.2-million.
"Our proprietary relationship with the Minto Group has brought us another strong property acquisition opportunity that meets our key criteria," said Michael Waters, CEO of Minto Apartment REIT.
Valens GroWorks Corp. (VGW-X) announced second-quarter revenue increased to $8.8-million up from $22,741 a year earlier and ahead of expectations of $6.9-million. Its loss was $10-million or 10 cents per share versus a loss of $2.4-million or 3 cents a year earlier, according to its filing on Sedar.com.
Pure Gold Mining Inc. (PGM-X) announced that, concurrent with its $32.5-million bought-deal private placement announced on June 21, the company has agreed to issue up to a further 23.7 million units of the company at a price of 55 cents per unit for additional gross proceeds of up to $13-million on a non-brokered basis. It said the agreement includes 11.85 million units each to AngloGold Ashanti Ltd. and an institutional investor.
The company said the net proceeds will be used for exploration and development activities and for general corporate purposes.
goeasy Ltd. (GSY-T) announced the appointment of Hal Khouri as executive vice-president and chief financial officer effective Aug. 12.
He joins goeasy from DuoBank (formerly Walmart Bank of Canada) where he served as chief financial officer since 2011.
NFI Group Inc. (NFI-T), the global bus manufacturer known as New Flyer, announced a revision to its fiscal 2019 guidance to 4,260 equivalent units (EUs), a decrease of 150 EUs, or 3.4 per cent, from previously reported expected deliveries.
NFI said it delivered 1,029 EUs in the second quarter, a decrease of 130 EUs compared to the same period last year. The company plans to release its second-quarter results on Aug. 13.
Freshii Inc. (FRII-T) announced the appointment of Daniel Haroun as its new chief financial officer, effective Aug. 26. Mr. Haroun has more than a decade of senior management experience between Restaurant Brands International and, most recently, Walmart Canada, the company stated.
Alexandria Minerals Corp. (AZX-X) said an acquisition proposal from Agnico Eagle Mines Ltd. (AEM-T) expired on its terms without being accepted. Agnico Eagle has now formally withdrawn its offer, the company stated. The acquisition proposal currently available to the company and its shareholders is from O3 Mining Inc. (OIII-X). With the previously announced O3 Mining offer, Alexandria shareholders would receive 0.018041 common shares in the capital of O3 Mining per common share of the company, the company stated.
Canopy Rivers Inc. (RIV-X) reported a loss of $1.8-million in its latest quarter compared with a profit of nearly $14.6-million in the same quarter last year. The venture capital arm of marijuana company Canopy Growth Corp. says the loss amounted to two cents per diluted share for the quarter ended March 31 compared with a profit of 11 cents per diluted share a year ago. Operating income for what was the company's fourth quarter totalled nearly $6.1-million, down from $19.5-million a year earlier.
Earlier this month, Bruce Linton stepped down as chairman and a director of the company at the same time that he was ousted from Canopy Growth Corp. (WEED-T)
- The Canadian Press
MittlemanBrothers LLC, which describes itself as the largest shareholder of Aimia Inc. (AIM-T), released a statement taking issue with Aimia's appointment of two new directors two weeks after the company's annual general meeting (AGM). "These two new directors were not presented to or elected by shareholders at the AGM. Nor were their appointments discussed or canvassed in any way with Mittleman," it stated.
Mittleman said it believes that public companies, such as Aimia, “should respect basic principles of shareholder democracy and that directors should be elected by shareholders – and not furtively appointed after the fact. Given its recent actions, Aimia’s Board – including its two new appointees – should not assume support from Mittleman.”
Turquoise Hill Ltd. (TRQ-N) reported first production at its Oyu Tolgoi project in Mongolia could be delayed by 16-to-30 months compared to the original feasibility study guidance in 2016. It also said the development capital spend for the project may increase by $1.2-billion to $1.9-billion over the $5.3-billion previously disclosed.