Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Aecon Group Inc. (ARE-T) says SA Energy Group, a 50/50 joint venture between Aecon and Robert B. Somerville Co. Ltd., has been awarded a $282-million contract by Enbridge Pipelines Inc. for Spreads 8 and 9 of the Line 3 Replacement Phase 2 project in Manitoba. The scope of work includes constructing 92 km of pipeline in the area of Brandon for Spread 8, and constructing 96.5 km of pipeline near Morden, Man. for Spread 9 extending to the Canada-U.S. border.
"This award, combined with Aecon's recent major project wins, will see backlog reach record levels in the second quarter of 2018 and demonstrates our proven capabilities delivering a diverse range of projects through Aecon's Industrial segment," stated Aecon CEO John Beck.
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SDX Energy Inc. (SDX-X) says its subsidiary SDX Energy Morocco (Jersey) Limited plans to sign an agreement with the European Bank for a three-year US$10-million reserves-based lending credit facility. It includes an accordion feature taking total potential availability up to US$20 million.
"The facility will be available for use in Morocco and will provide the company with an additional liquidity source and the ability to optimize its cost of capital for the funding of customer connection infrastructure and future drilling and field development costs," the company stated.
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Advantage Lithium Corp. (AAL-X) says it plans to raise $12-million in a private placement that includes 15.6 million shares at 77 cents each. The company said subscribers have been identified to fill the placement. Proceeds will be used for general working capital and to fund continued development and exploration activities on its lithium properties in Argentina.
The company said it anticipates that insiders of the corporation, including Orocobre Limited, will exercise participation rights in order to maintain their existing ownership interest in the company.
Cronos Group Inc. (CRON-Q; CRON-T) says it has entered into a joint venture partnership with a group of investors led by Bert Mucci, who it calls "one of Canada's most sophisticated greenhouse operators and builders." The partnership will function through a newly formed entity, Cronos Growing Company Inc., which will develop, construct and operate a greenhouse for cannabis production in Kingsville, Ont., the company said.
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Nautilus Minerals Inc. (NUS-T) says it has received a loan from Deep Sea Mining Finance Ltd. for US$350,000. It’s part of the previously announced loan agreement between the company, two of its subsidiaries and the lender which provides for a secured structured credit facility of up to US$34-million. The company has issued to the Lender an additional 1.5 million warrants, each of which entitles the lender to purchase one common share of the company for 17 cents for a period of five years from the date of issuance of the warrant.
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Intertape Polymer Group Inc. (ITP-T) says it's buying Polyair Inter Pack Inc., a private protective packaging business with seven manufacturing facilities and a distribution center in North America, for $146-million.
“We believe this acquisition demonstrates our commitment to deliver on our strategic growth targets and become a global leader in packaging and protective solutions. We consider protective packaging an important driver of our vision and we expect this acquisition to create value for our shareholders,” said IPG CEO Greg Yull. “Polyair is a leader in protective packaging solutions with products and customers that complement our existing portfolio."
IPG said it expects to fund the acquisition with funds available under its $600-million credit facility.
Emblem Corp. (EMC-X) says it's is making a "strategic equity investment" into Natura Naturals Inc., a licensed greenhouse cultivator of medical cannabis in Canada. The companies have also signed a three-year cannabis supply agreement to provide Emblem up to 3,000 kg of high-quality cannabis flower per year from Natura’s Phase 1 cultivation facility, the company said.
Emblem said it will invest $3-million in cash for 3.75 million common shares of Natura and 3.75 million common share purchase warrants exercisable at $1.05 for 24 months. After closing, Emblem will own approximately 5 per cent of Natura’s outstanding shares on a non-diluted basis.
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Héroux-Devtek Inc. (HRX-T) says it has been awarded a five-year contract by Lockheed Martin Aeronautics Co. to manufacture the landing gear for the C-130J Super Hercules aircraft.
Under the terms of the agreement, Héroux-Devtek will manufacture and assemble the landing gear for Lockheed Martin's global production of the C-130J aircraft and provide spare parts over a five-year period beginning in January 2020.
“This contract renewal is once again a testament to our leadership in the military landing gear market,” stated Gilles Labbé, CEO of Héroux-Devtek.
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Namaste Technologies Inc. (N-X) says it has signed an e-commerce and technology services agreement with BlissCo Cannabis Corp Inc. (BLIS-C) that sees Namaste provide access to its technology platforms, software integrations and e-commerce services.
Namaste said it will leverage its "proprietary technology platforms to develop an innovative online marketplace in partnership with BlissCo to enhance BlissCo's patient experience."
BlissCo is a Canadian licensed producer and distributor of medical cannabis.
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