Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
A&W Revenue Royalties Income Fund (AW.UN-T) reported same-store sales growth of 13 per cent in the third quarter and increased its monthly cash distribution by 1.4 per cent, from 14.1 cents per unit to 14.3 cents.
The fund reported sales by restaurants in the royalty pool of $350.2-million up from $296.8-million last year. Net income was $8.4-million up from $8.2-million a year earlier.
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White Gold Corp. (WGO-X) said it plans to raise $15-million in a bought-deal financing. It has an agreement with a syndicate of underwriters to purchase 3.3 million common shares at a price of $1.50 each and 5 million flow-through common shares at $2 each.
"Based on existing investor rights agreements between the company and each of Agnico Eagle Mines Limited and Kinross Gold Corp, both Agnico and Kinross have the right to participate in the offering in order to maintain their respective approximate 19.6-per-cent interests," the company said.
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Organigram Holdings Inc. (OGI-X) said it has an agreement to buy alpha-cannabis Pharma GmbH for €1,625,000 (about $2.4-million Canadian)
"As part of the investment and effective upon the closing of the investment, OGI's wholly-owned subsidiary, Organigram Inc. will enter into two supply agreements with ACG: one for the supply of cannabidiol isolate from ACG to Organigram Inc., and the other for the supply of dried cannabis flower from Organigram Inc. to ACG," the company said. "In addition, ACG and Organigram Inc. will enter into an agreement pursuant to which the companies will jointly evaluate and bid on certain licenses to supply medical cannabis to the German market."
Organigram also said it completed the sale of Trauma Healing Centers (THC) to Harvest Medicine Inc., a medical cannabis clinic group in Edmonton and Calgary, Alberta. Harvest Medicine is a wholly-owned subsidiary of VIVO Cannabis Inc. (VIVO-X)
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Choom (CHOO-T) said its Specialty Medijuana Products Inc. subsidiary has received a cultivation license from Health Canada. " Choom is poised to become a major retail player in the adult use cannabis space, with stores scheduled to open across the country," the company stated.
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Wayland Group (WAYL-CN) said it has received the sales license from Health Canada for our expansion in Norfolk, Ont. "and will be able to ship product grown in our state-of-the-art facility,” said Ben Ward, CEO Wayland Group.
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Altius Minerals Corp (ALS-T) said it expects to report attributable royalty revenue of approximately $16.9-million for the three-month period ended Sept. 30, 2018, which the company said is 2-per-cent higher compared to $16.5-million during the prior quarter and 6-per-cent lower than the $17.9-million reported during the quarter ended Oct. 31, 2017. It said final results will be released Nov. 7.
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Storagevault Canada Inc. (SVI-X) said it has an agreement to purchase two stores in Ottawa, for an aggregate purchase price of $13.3-million. It also completed the previously announced acquisition of three stores, two in Quebec and one in Saskatchewan, for $16-million.
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Cargojet Inc. (CJT-T) announced a $75-million bought deal offering of senior unsecured hybrid debentures. The corporation said it intends to use the net proceeds to pay down its revolving credit facility “that has been drawn to support engine and aircraft purchases, and to free up capacity to fund anticipated capital expenditures, including aircraft, in the future.”