Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Drone Delivery Canada Corp. (FLT-X) announced a commercial agreement with DSV Air & Sea Inc. Canada, the Canadian arm of the global transport and logistics company DSV Panalpina A/S, to deploy DDC’s drone delivery platform for the use of DSV commencing at its new head office and warehouse in Milton, Ont. It said the agreement came with assistance of its sales agent Air Canada (AC-T).
DSV will pay DDC a monthly fee for each drone route deployed. The initial term of the agreement is 15 months with additional successive one-year terms to follow unless the agreement is formally terminated, the company stated.
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Knight Therapeutics Inc. (GUD-T) and Sifi S.p.A., an Italian eye care company, announced that Health Canada has approved Netildex for the treatment of inflammation following cataract surgery among certain patients. Knight and Sifi entered into an exclusive Canadian agreement for the treatment in August 2016.
“We are excited about the approval of Netildex in Canada, providing patients with a new antibiotic with a well-established corticosteroid,” said Jonathan Ross Goodman, CEO of Knight.
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CRH Medical Corp. (CRH-T) announced a new, three-year revolving credit facility that provides up to $200-million in borrowing capacity, and represents an increase from the company’s previous $100-million facility.
The new facility includes a committed $125-million facility and access to an accordion feature that would increase the amount of credit available to CRH by $75-million, the company said. It said the lending syndicate for the new facility is led by JPMorgan Chase Bank, N.A. and also includes The Bank of Nova Scotia, U.S. Bank and Wells Fargo.
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Well Health Technologies Corp. (WELL-X) announced plans to buy 51-per-cent of Spring Medical Centre Ltd., a private B.C. corporation for $667,000 in cash and shares. The remaining 49 per cent of the company will be retained by the former shareholder of Spring Medical, who will continue to operate the company on a post-closing basis.
“Spring Medical has a very unique approach to integrative patient care and will broaden the umbrella of medical services offered by Well,” said Hamed Shahbazi, the company’s chairman and CEO.
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ATS Automation Tooling Systems Inc. (ATA-T) announced its subsidiary Comecer S.p.A. has received an order booking valued at $32-million from an unnamed “leading global pharmaceutical company” for the supply of an automated pharmaceutical assembly and filling line. “The award of this strategic program is a great win for our business and marks a significant step forward in the ongoing development of our ATS and Comecer joint offerings for the aseptic fill and finish market,” said Andrew Hider, CEO of ATS. The order booking will be recorded in the company’s third quarter and is expected to be delivered over the next two years.